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Detroit Retail Space In-depth Detroit is the largest city in the state of Michigan. It is located in Wayne County.
Advantages of expanding, opening or relocating your business with Detroit retail space include the city providing wireless Internet zones, business tax incentives, entertainment, an international riverfront, and residential high rises.
The once-and-futu... Read More
Detroit Retail Space In-depth Detroit is the largest city in the state of Michigan. It is located in Wayne County.
Advantages of expanding, opening or relocating your business with Detroit retail space include the city providing wireless Internet zones, business tax incentives, entertainment, an international riverfront, and residential high rises.
The once-and-future motor city is meeting the challenges of a downsizing auto industry and a national economic slow down head on. The changing dynamics have altered the names of expanding retailers, but this shift has managed to present an opportunity to many local entrepreneurs and market savvy retailers.
The City of Detroit has few big chain retailers, while many local businesses are in the city limits. Many independent grocery stores serve neighborhoods in Detroit; some neighborhoods are underserved by grocery stores. As of 2009, no “big box” supercenters from chains such as Wal-Mart and Target exist in the city.
Metro Detroit is also seeing local entrepreneurs step up to fill the void left by retreating national retailers. Local companies such as ABC Warehouse and Dunham’s Sports have taken advantage of the market conditions and increased revenues with a number of relocations by back-filling vacated mid-box storefronts. Local franchisees including Five Guys, Jimmy Johns and Noodles & Company, as well as an assortment of family restaurants, are taking advantage of reduced national competition for prime retail space locations and are filling area vacancies. A new apparel concept, Wear District, is picking up where Steve and Barry’s left off. The retailer requires 25,000 square feet and is a great example of local entrepreneurs seeing a retail void, gathering tremendous executive talent and opening in proven retail locations.
Southeast Michigan remains one of the largest metro areas in the country, home to renowned research institutions and a talented work force. While the region rides out the immediate ups and downs of the economy, the area continues to diversify and opportunistic retailers and entrepreneurs are rising to the challenge to meet the community’s needs.
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