Alpine Avenue's Green Ridge Square shopping center could have new ownership soon.

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Wood TV 8 reports that this week, the current owner, Retail Value Inc. announced a contract to sell Green Ridge Square in Walker for $23.3 million in cash to a third party purchaser.

According to a press release, the sale is "subject to adjustment for certain closing pro-rations, allocations, credits, closing costs and escrows". The fine print also reads,

Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements.

So basically, the current owners are pretty sure it's a done deal, but things could change before the end of the year -- which is the date by which they believe the sale will happen.

The name of the buyer has not been not revealed - so I have to wonder if they'll keep the current stores? Or maybe they'll turn it into something else completely. Comments on Wood TV-8's Facebook page pondered the possibility of new ownership turning the space into apartments.

Green Ridge Square is one of my favorite shopping spots in the Grand Rapids area, so I hope it stays a mall. So many of my favorite stores in one spot! Target, Bath and Body Works, Michaels, Five Below...

We'll keep you posted as we learn more about the sale!

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