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2021 Q1 Grand Rapids Retail Market Report

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Those in multiple Michigan retail markets are feeling cautiously optimistic after a tumultuous 12 months. The retail sector is showing signs of rebound amid the continuing pandemic and will look different going forward as retailers and restaurants have developed new products, processes and practices that will likely stick around. Improved economic activity spurred by more people being vaccinated and feeling safer to venture out, in-person learning on college campuses and other returns to "normal" have driven consumer spending and a growing optimism that will help entertainment, retail, bars and restaurants. It's also evidenced by some significant new redevelopment opportunities in some markets. New tenants and buyers have entered new markets in Michigan, looking for good locations, high traffic land and available leasable space. Class A, prime locations with regional access and Class B community and neighborhood retail is also in demand. For years there have been low supply in desirable corridors, so advisors have high hopes to fill recently vacated properties with new retail coming off COVID-19 shutdowns. 

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2021 Q1 Grand Rapids Retail Market Report

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Related Experts

Shawn OBrien

Vice President

Lansing

I service the Greater Lansing Area. With over two decades of commercial real estate experience, I bring a background of retail property sales and leasing, land brokerage, and investment properties throughout Mid-Michigan. Previously, I was a senior vice president for a Lansing-based commercial real estate firm for 19 years. At Colliers, I specialize in brokerage sales/leasing, site selection for retail, mixed-use properties, and land. I also provide brokerage and development consulting, acquistion, or disposition of investment properties throughout Michigan. 

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Amy Richter-Perkins

Associate Vice President

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I joined Colliers in 2020, bringing extensive commercial real estate experience. Throughout my career and over the past twenty years I have provided services to retail, restaurant, and shopping center owners throughout Mid-Michigan. I am an expert in shopping center and retail leasing, new business development, seller and buying representations, tenant advisory and site selection throughout Michigan.   

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