Lansing, Michigan, is a hub for retail activity, with a diverse range of businesses and attractions that draw in visitors and locals alike. With its prime location at the intersection of the Grand River and the Red Cedar River, Lansing offers a unique blend of natural beauty and urban amenities. The city's infrastructure, including the Capital Area Transportation Authority (CATA) and the Lansing Board of Water & Light, provides a solid foundation for businesses to thrive. Additionally, the presence of major corporations like General Motors, Auto-Owners Insurance Company, and Michigan Millers Insurance Company contributes to the city's economic vitality. With its rich cultural landscape, including institutions like the Lansing Symphony Orchestra and the Impression 5 Science Center, Lansing is an attractive location for retail businesses looking to tap into a vibrant and diverse community.
With 45 retail spaces for lease in Lansing, there are plenty of opportunities for businesses to establish a presence in this thriving city. The average annual rent for retail space in Lansing is $14 USD per square foot, with options ranging from 360 square feet to 88,000 square feet. Lansing's retail landscape is complemented by a range of other property types, including restaurants, medical offices, and office spaces. For example, restaurants in Lansing can take advantage of the city's vibrant downtown area, while medical offices can benefit from the presence of major hospitals like University of Michigan Health - Sparrow Lansing and McLaren Greater Lansing Hospital. Meanwhile, office spaces in Lansing can tap into the city's strong economy, driven by industries like government, education, and insurance. Overall, Lansing offers a unique and attractive environment for businesses of all types.
What is the average cost per square foot for retail space in Lansing?
The average annual rent per square foot for retail space in Lansing is $14 USD, with available listings totaling 45 and average space sizes ranging from 6,395 square feet to 88,000 square feet.
How do anchor tenants affect surrounding retail space leases?
In a city like Lansing, where anchor tenants like General Motors, Auto-Owners Insurance Company, and Jackson National Life have a significant presence, the surrounding retail space leases can benefit from increased foot traffic and visibility, as these major employers draw in customers and create a hub of activity, ultimately driving up demand and potentially leading to higher lease rates for nearby retail spaces, with 45 available listings, averaging $14 USD per square foot, and ranging in size from 6,395 square feet to 88,000 square feet.
