The development will also feature three standalone restaurants including Johnny Carino's and Applebee's. "The Independence Marketplace shopping center will cater to an area which, for many years, has been underserved from a retail perspective," says Daniel Stern, co-partner, Lormax Stern Development Co.

Located at Outer Drive and Southfield Road, the site was donated years ago by Henry Ford to the Veterans Administration for use as a hospital facility. The hospital has since relocated and the property reverted to the Ford family. Lormax Stern and REDICO purchased the 36-acre property from the heirs of Henry Ford earlier this year.

"Independence Marketplace converts a vacant site back into a vibrant part of the community," says Dale Watchowski, president and chief executive officer of REDICO. Both based in metropolitan Detroit, REDICO and Lormax Stern feature a collective portfolio of more than 12 million sf of office, industrial and retail property throughout the US.