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Retail Value Inc. closed on the sale of Grandville Marketplace in a deal worth $16.7 million. The 224,000-square-foot Grandville, Michigan, shopping mall is anchored by Hobby Lobby, Office Max and PetSmart. RVI said in a statement that the net proceeds were used to repay mortgage debt associated with the company. Subsequent to the transaction, RVI now owns interests in 32 properties in the continental U.S. and 12 properties in Puerto Rico.