Deer Creek Shopping Center sold to Michigan trust

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The Deer Creek Shopping Center was purchased last week by Ramco-Gershenson Properties Trust for $24 million in cash, according to the St. Louis Business Journal.

The trust, from Farmington Hills, MI, bought the shopping center from Summit Development Group, according to the city of Maplewood, the St. Louis Business Journal reports.

Scott Reeseis, co-founder of Summit Development Group, told the Business Journal the shopping center was on the market for 90 days.

Summit Development Group developed the center over the past couple years, and is now at almost full-occupancy. Ross Dress for Less, buybuy Baby,  Marshalls, JoAnn Fabrics and Gordon Foods are anchors.

Read the full article at the St. Louis Business Journal.

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