YPSILANTI, MI—Namdar Realty Group has just completed the acquisition of the Gault Village Marketplace shopping center in Ypsilanti, MI, about 30 miles southwest of Detroit. The Great Neck, NY-based investment and management firm is currently on a shopping spree due to the recent increase in interest rates, which benefits all-cash buyers like Namdar, and looking at a number of similar properties across the US.

Joel J. Gorjian, vice president of acquisitions and dispositions, and Namdar focus on acquisitions in the secondary and tertiary markets, because retail properties in these locations face less competition from other retailers and shopping centers. "This strategy benefits both the properties we own and operate, and our retail tenants, who also face less competition," Gorjian tells GlobeSt.com. "By operating properties in less saturated markets, it is easier for us to develop and maintain customer loyalty."

"The 160,500-sq.-ft. Gault Village Marketplace was an attractive acquisition target and fit well into our portfolio due to its redevelopment and repositioning potential as well as a high capitalization rate," adds Gorjian. "We are planning to upgrade the property and target new tenants, including both national and regional retailers that cater to the needs of the local demographics."