Detroit, Michigan, a major city in the Midwestern United States, offers a unique opportunity for businesses to thrive in a culturally rich and historically significant location. With a population of around 670,000, Detroit is an ideal place to lease a Retail Space, given its strong infrastructure, diverse economy, and attractions that draw visitors from all over the world. The city's revitalization efforts have preserved its architectural heritage, making it an attractive destination for tourists and businesses alike. As a result, leasing a Retail Space in Detroit can be a lucrative investment, with 154 available listings to choose from.
Leasing a Retail Space in Detroit provides access to a diverse range of amenities, including sports facilities like Comerica Park, Ford Field, and Little Caesars Arena, as well as cultural institutions like the Detroit Institute of Arts, Detroit Historical Museum, and the Charles H. Wright Museum of African American History. Additionally, the city is home to major corporations like General Motors, Ford, and Stellantis North America, making it an attractive location for businesses looking to establish a presence in the automotive industry. Restaurants, Medical Offices, and Office Space are also available in Detroit, offering a range of options for businesses looking to establish a presence in the city. With average annual rent per square foot of $19 USD and average space size of 4,545 square feet, leasing a Retail Space in Detroit can be a cost-effective option for businesses looking to establish a presence in the city. Overall, Detroit offers a unique blend of culture, history, and economic opportunity, making it an attractive location for businesses looking to lease a Retail Space.
What is the average cost per square foot for retail space in Detroit?
The average cost per square foot for retail space in Detroit is $19 USD per square foot, with 154 available listings ranging in size from 4,545 square feet to 52,525 square feet.
How do anchor tenants affect surrounding retail space leases?
In Detroit, where there are currently 154 available listings of retail space for lease, anchor tenants play a significant role in shaping the surrounding retail landscape, as they often drive foot traffic and attract complementary businesses, which can lead to increased demand and higher lease rates for nearby retail spaces, with average annual rent per square foot hovering around $19 USD and average space size of 4,545 square feet, with some spaces reaching up to 52,525 square feet.
