Orion Marketplace

Retail / ±60,596 SF / Lake Orion, MI

Purchased the retail shopping center from CW Capital in October 2018. Orion Marketplace is comprised of a 50,755 SF L-shaped in-line center constructed in 1990 and a 10,000 SF two-tenant medical/office outlot building constructed in 1995. At closing, the buildings were 64% occupied with several short-term leases and a struggling health club. Within a few months, Premier sold the 10,000 SF outlot building to a local Detroit medical group for half of its total initial investment. The property’s deferred maintenance items have been addressed, and marketing efforts continue to stabilize the tenant roll in the multi-tenant building.