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Retail Suite: 25 Jackson Industrial, Ann Arbor

Retail Suite LEASED: 2,100 SF

Great retail or service opportunity in highly visible shopping center end unit. Frontage on Jackson Road across from Lowe’s, Standard Bistro and next to Meijer. Ample at the door parking. Easy access to I-94 at Zeeb Road interchange 169.

Jeff Evans of Swisher Commercial was the listing and selling agent for this property. Jeff can be reached by phone at (734) 926-0222 and by e-mail at jeffevans@swishercommercial.com.

Ann Arbor Market Info – YE Vacancy Report

MLive.com interviews Bart Wise regarding the 2020 YE Vacancy Report and the current commercial real estate climate in Ann Arbor.
“We brokered quite a few transactions in 2020 and a lot of them of are businesses that continued on,” Wise said, including manufacturers of sanitary products. “As time goes on and more and more people are vaccinating, that’s going to have a stabilizing impact. That’s going to take some time and different people will react differently.”
Others anticipate businesses will adopt a “work-from-anywhere” model, where they will continue to have an office presence to utilize downtown Ann Arbor’s amenities, such as easily grabbing a bite to eat or meeting with others, while also maintaining a productive schedule outside of a formal space.

Industrial Warehouse Suite: 4480 Varsity Drive, Ann Arbor

Industrial Warehouse Suite E LEASED: 6,600 SF

Unit features 17.5′ ceilings with three 12′ x 14′ power grade level overhead doors and single phase, 200 AMP power. It has two separate warehouse areas with shipping receiving offices, utility sink, and forced air shop heaters. It also has back-up generator power. Total warehouse area is 4,068 SF. Ample truck parking behind building. Office area has 2,520 SF with multiple private offices, conference room, kitchen area, and two barrier free ADA compliant restrooms.

Jeff Evans of Swisher Commercial is the listing and leasing agent for this property. Jeff can be reached by phone at (734) 926-0222 and by e-mail at JEFFEVANS@SWISHERCOMMERCIAL.COM.

 

Downtown Retail Commercial for Lease: 3126 Broad, Dexter

1,800 SF – 6,800 SF downtown retail commercial space available. Former Encore Theater building in the heart of downtown Dexter. Property fronts the newly formed social District in downtown and is easy walking distance to multiple residential developments, Mill Creek Park, B2B Trail, and other retailers are all within walking distance.

Wide open building features 9′- 20′ exposed ceilings, rare ample onsite surface parking, and 12′ grade level overhead door. Private parking lot to the east of building could be patio for outdoor seating.

For financially qualified Tenant(s), owner will build to suit and customize unit(s).

Lease Rate: $16 PSF Plus Utilities

3126 Broad Interior Swisher Commercial for Lease3126 Broad Interior Warehouse for Lease Swisher Commercial

For more information or to schedule a property tour, contact Jeff Evans at (734) 926-0222 or jeffevans@swishercommercial.com.

THE NORTH OFFICE AREA (NOA)

The North Office Area (NOA) vacancy increased from 6.8% to 7.0%. (+0.2%)
Of the 35 NOA buildings, nine reported a change in vacancy, with three of those buildings increasing by more than 5,000 square feet. The negligible increase reinforces our vacancy report historical data showing that NOA buildings attract long-term tenants, bringing stability to NOA landlords, even in difficult times. Nevertheless, underneath the relatively stable vacancy rate, this year there was a lack of significant new demand for office space in the NOA. Anecdotally, a listing broker reports that a Class A NOA office building with a sizable vacancy has had but a single new prospect inquiry since the beginning of the pandemic. Typically, in that same time frame, a quality Class A office vacancy in the NOA would draw a half-dozen or more inquiries by prospective tenants.

Retail Commercial for Lease: 3126 Broad, Dexter

Retail Commercial Space Available: 1,800 SF – 6,800 SF

Former Encore Theater building in the heart of downtown Dexter. Multiple new residential developments and other retail are within walking distance.

Building features 20′ exposed ceilings, 20+ parking spaces, and 14′ grade level overhead door. Owner will build to suit to customize unit(s) for new tenant(s).

Lease Rate: $16 PSF Plus Utilities

Retail Commercial 3126 Broad3126 Broad Dexter Retail Commercial

For more information on this retail commercial space or to schedule a property tour, contact Jeff Evans at (734) 926-0222 or jeffevans@swishercommercial.com.

 

Valley Ranch Business Park | New Construction: 1175 Oak Valley, Ann Arbor

FOR SALE “AS IS”: New construction office building located in Valley Ranch Business Park on the south side of Ann Arbor. Site and shell completed. Ready for tenant leaseholds. Includes 4 loading doors and 17′ ceilings. 800 AMP, 277 VOLT, 3 Phase electric. Zoned for Office, Research & High Tech Uses.

Building Square Footage: 25,446 SF

Sale Price: $3,800,000

New Construction 1175 Oak Valley Suites Swisher Commercial

FOR LEASE: Approx. suites sizes available: 5,000 sf, 10,000 sf, 15,000 sf, 20,000 sf and 25,000 sf

LEASE RATES:

$17.00 PSF NNN with a $50.00 PSF Buildout Allowance (5 Year Lease Minimum)

$19.00 PSF NNN with a $60.00 PSF Buildout Allowance (5 Year Lease Minimum)

$18.50 PSF NNN with a $60.00 PSF Buildout Allowance (7 Year Lease Minimum)

For more information on this new construction or to schedule a property tour, contact Bart Wise at (734) 662-3778 or bartw@swishercommercial.com.

Office Suites for Lease: 2385 Oak Valley Drive, Ann Arbor

Proposed new construction in Pittsfield Township. Two story Class A office building with abundant at the door parking, suites ranging from 1,200 sf to 8,000 SF. Generous leasehold allowance for office suite build out.

Construction to begin in Spring 2021. Completion expected December 2021.

For Lease:

Suite 1: 7,749 sf, $26.50 psf (plus utilities)

Suite 2: 3,875 sf, $26.50 psf (plus utilities)

Suite 3: 1,778 sf, $26.50 psf (plus utilities)

Suite 4: 1,204 sf, $26.50 psf (plus utilities)

Easy access to I-94 at Ann Arbor Saline Road interchange, M-14 and US-23.

For more information, contact Bart Wise at (734) 662-3778 or bartw@swishercommercial.com

THE DOWNTOWN OFFICE AREA (DOA)

The Downtown Office Area (DOA) vacancy rate increased from 5.7% to 8.0% in 2020. (+2.3%)
Of the 66 DOA buildings, there were 23 that increased in vacancy, though only three buildings ended the year with more than 10,000 square feet vacant. A 92% DOA office occupancy rate would typically signify a healthy downtown, however, casual observers saw that downtown Ann Arbor had a fraction of its normal foot traffic. While leases remained in place, floors of office buildings were unoccupied and parking spaces were abundantly available. Swisher brokers report that there has been little office space demand by new prospective DOA tenants this year. Over the years, office tenants have been attracted to the vibrancy of the DOA amenities, and at the same time, downtown Ann Arbor restaurants and retail businesses have come to rely on foot traffic from office occupants and their clientele for weekday business. In reaction to the pandemic, the State of Michigan shut-down orders in 2020 intermittently disallowed office occupancy, indoor restaurant dining, and retail operations. When the orders themselves were eased, downtown activity remained slow. The symbiotic relationship between DOA office users and downtown restaurants and retail was dramatically disrupted.
Download your full 2020 YE Vacancy Report here: https://www.swishercommercial.com/…/reportavailable2020/