ALPHARETTA, GA — A real estate investment firm is quietly deepening its bet on the Midwest, adding a sprawling shopping center in western Michigan to a portfolio that now spans more than 50 properties across 15 states. Octave Holdings & Investments, LLC (Octave) has purchased Lakeshore Marketplace in Norton Shores for $41.5 million, marking its fourth acquisition in Michigan. The deal was structured as a joint venture with Peachtree Partners and was funded in part by proceeds from two 1031 exchanges completed earlier this year, following the sale of Rivermont Square and Sugarcreek Plaza.
The property itself is substantial: a 349,332-square-foot regional shopping center anchored by a roster of national retailers that reads like a highway strip mall dream. Tenants include TJ Maxx, HomeGoods, Sierra, Hobby Lobby, Burlington, Old Navy, Five Below, Petco, Dollar Tree, Dunham’s Sports, and Barnes & Noble, with a Target store serving as a shadow anchor. The center sits on 40.92 acres at the northeast quadrant of U.S. Route 31 and East Sternberg Road, within the Grand Rapids–Muskegon Metropolitan Statistical Area. According to Octave, roughly 45,000 vehicles pass the interchange daily, and more than 179,000 residents live within a 10-mile radius. Muskegon County Airport is just two miles west.
“Lakeshore is an exciting acquisition for us as we continue to grow our presence in the Midwest,” said Scott Henard, EVP & Director of Transactions at Octave Holdings & Investments. “With the newly completed Sierra lease, the center is now anchored by three TJX tenants along with a handful of other leading national tenants and is very well positioned as the dominant center in the submarket.”
Zia Rahman, Partner & Chief Strategy Officer, framed the deal as a deliberate move in a broader strategy. “We continue to look for opportunities to acquire high-quality, necessity-anchored and necessity-shadow-anchored centers that meet our disciplined investment criteria,” Rahman said. “This acquisition reinforces our strategy of building a diversified portfolio of resilient, income-producing properties and our thesis of investing in essential, necessity-based real estate that remains resilient across economic cycles.”
Octave Holdings & Investments is a privately held firm that reports owning and operating more than 50 commercial real estate assets valued at over $1 billion. The company says its mission centers on helping individuals and institutions achieve financial freedom through tangible commercial real estate investments, with an emphasis on transparency and passive income.
Why it matters: While retail real estate has faced headwinds from e-commerce and shifting consumer habits, Octave’s continued expansion in Michigan suggests investor confidence remains strong in well-located, necessity-anchored centers. The firm’s use of 1031 exchanges also highlights a tax-efficient strategy that could appeal to other institutional investors looking to rotate capital without triggering immediate tax liabilities.
Sidrah Nadeem
Octave Holdings & Investments
+1 929-490-3435
