(For more retail coverage, click GlobeSt.com/RETAIL.)
(Natalie Keith is a contributing writer to GlobeSt.com.)
ALLEN PARK, MI-Construction is set to begin on 24,000 sf of retail space as developers put the finishing touches on 44,250 sf at the Fairlane Green retail development. The landfill redevelopment project is located on 400 acres between Oakwood Boulevard and Outer Drive.
Lance Taylor, development manager of Archon Group, LP in Irving, TX, which is developing Phase I of the Fairlane Green, tells GlobeSt.com that 22,500 sf in leases have been signed for the retail space that is nearing completion. The space is contained in three freestanding buildings that are 11,250 sf, 13,500 sf and 19,500 sf.
Tenants that have committed to the space include Quiznos Sub, Game Stop, Olga's Kitchen, Moe's Southwest Grill, Great Clips, Casual Male, PostNet and DEB Shops. Leases for the space range from $24 to $32 per sf. Tenants are expected to move in sometime in May. Taylor says that 21,750 sf remain available.
Ford Land, the real estate arm of Ford Motor Co., owns the property and developed the site plan. Ford Land sold the first phase of development to Archon. Phase I will contain approximately 404,040 sf of retail space on 105 acres. Ford will develop the 600,000-sf Phase II, which will include a park and 3.5 miles of trails.
Tenants that have moved into retail space completed last fall include Target, Cost Plus, Pier 1 Imports, Dress Barn, Old Navy, Lane Bryant, T.J. Maxx and Bed, Bath & Beyond. Two restaurants--Longhorn Steakhouse and On-the-Border--are expected to occupy the space in March, Taylor says.
David Hesano, Micheal Lippitt and Bradley Rosenberg with Landmark Commercial Real Estate Services in Detroit are handling leasing activities. William L. Shy, of CB Richard Ellis' East Lansing office, is overseeing property management.Archon has started construction on two more freestanding retail buildings, each measuring 12,000 sf. "We don't have any signed leases for those two buildings yet, but we are in negotiations," Taylor says.
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