MMCC Arranges $25M Loan for Troy, Michigan Retail Acquisition

Marcus & Millichap Capital Corp. (MMCC) has arranged $25 million in financing to buy a 62,364-square-foot retail property in Troy, Michigan. Todd Phillips of MMCC placed the loan with a national bank.

The loan carries a seven-year term, a 6.1 percent interest rate and a 30-year amortization schedule. The property sits near Interstate 75 and houses several national restaurant and retail tenants. The address is listed as 700 West Big Beaver Road.

The transaction is a good example of how lenders are still financing income-producing retail in suburban Detroit-area markets when the tenant mix is established. The deal was reported on October 26, 2026.

Practical implication: buyers of multi-tenant retail in Michigan should model debt service at rates near 6 percent with long amortization, and confirm tenant roster and lease terms early, since lenders will underwrite against them.