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Market Report

Detroit Retail Market Report

Second Quarter 2019

National Retailers Filling Space in Downtown Detroit; More Investors Favoring Strip Centers

Inventory expands in both city and suburbs. The city of Detroit’s renaissance continues to bolster retail options as more national stores open downtown. H&M is one of the latest to announce plans to debut this year along Woodward Avenue. Nearby, the Columbia Street project in District Detroit will provide 40,000 square feet of new space in a blocklong strip. Tenants include M Den, Sahara Restaurant & Grill and Frita Batidos. Retail developers are also busy in the suburbs.  The largest development due this year is Woodward Corners by Beaumont in Royal Oak, which is a transformation of the former Northwood Shopping Center. Roughly half of the center’s 117,000 square feet will be completed during 2019 with the remainder due in 2020. Marketwide, most of the buildings slated for completion in 2019 are less than 35,000 square feet and many are outlots of existing shopping centers.

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