Troy Could See More Retailers In The Oakland Plaza And Square

TROY, MI — Continental Realty Corporation (CRC) said Wednesday it has purchased the Oakland Plaza and Oakland Square for $34 million, according to a news release.

The two shopping centers in Troy consist of nearly 392,000 square feet and currently has 23 tenants, which includes TJ Maxx, HomeGoods and Kohl’s. Overall, the properties were 87 percent leased at the time of acquisition.

"We are inheriting high-performing tenants who are reinvesting in their stores," CEO JM Schapiro said. "We believe there is pent up demand for retail space in this section of Troy, and we have the relationships to add great retailers to the tenant mix here. We are confident this will be a win-win for our investors and for the Troy community."

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Continental Realty Corporation was founded in 1960 and headquartered in Baltimore. It is a privately-owned firm that provides full-service commercial real estate and investment company focused on acquiring and operating retail and multifamily properties.