27260-27350 Plymouth Rd
Redford, MI 48239
Retail Property For Sale

Marcus & Millichap is proud to present Redford Plaza, a 90.69 percent occupied 114,344 square foot retail center in Redford, Michigan. The center is anchored by a new Planet Fitness, the State of Michigan, Checkers and CVS. This center has undergone a dynamic transformation. Within the last 14 months, every current tenant has extended their lease term, and the property added Planet Fitness, and the State of Michigan. The 10-year Planet Fitness lease includes $2.5 million in tenant improvements, and the landlord invested $800,000 in overall improvements to the property. Planet Fitness is run by a regional franchisee currently operating in excess of 25 units, and is continuing to grow annually. This center is located in a core retail market with over 8,845,000 square feet of retail within five miles. Within the same area, the population is 315,372 people and there are 97,435 employees (Daytime Population). The center also benefits from substantial exposure. Over 64,000 vehicles pass this center daily. Additionally, the median household income for the area is projected to increase 13.29 percent by 2018 to $53,496 (US current average $51,972). Redford Plaza affords an investor the opportunity to secure a significantly improved asset, that still provides a value add opportunity through lease up, in a core retail market with solid and improving demographics.