Former Eastland Center site is marketed to industrial tenants
Developers of a $94million redevelopment at the Eastland Center site in Harper Woods have appointed a leasing agent to market the 80-acre site to potential tenants.
Signature Associates said Thursday it will exclusively lease space for the development, known as the Eastland Commerce Center, at 18000 Vernier.
Demolition is underway at the site, according to the city. The site’s three new commercial light industrial buildings are expected to be completed in early 2023.
The warehouse, distribution and manufacturing campus will consist of three buildings ranging from 200,000 square feet to 536,000 square feet and will total approximately 1.03 million square feet. Missouri-based NorthPoint Development is the owner and developer.
“We are delighted to partner with Signature Associates on this development,” Brent Miles, chief marketing officer at NorthPoint Development, said in a statement Thursday. “We are grateful for the opportunity to invest in this community and help create over eight hundred new direct and indirect jobs to strengthen the economy in the short and long term. »
Eastland Center, which opened in 1957, closed in early January after long being plagued by falling rents, falling buyer numbers and security concerns.
The new development is expected to create 550 full-time equivalent jobs.
“The site has been struggling for some time and we are excited to bring new development and jobs to the area,” said Joe Hamway, Vice President and Principal of Signature Associates.
Construction on the former mall site comes as Metro Detroit is experiencing high demand for industrial land. Earlier this year, the Michigan Economic Development Corp. noted the limited supply of Class A industrial space in and around Detroit. He said the site’s proximity to automakers would make the campus attractive to tenants who work in or support the auto industry.
In January, the MEDC’s Michigan Strategic Fund Board approved $4.7 million in brownfield tax credits for development. In October, Harper Woods City Council granted the project property tax abatements, a brownfields plan and a commercial facilities exemption certificate to offset the costs of demolition, lead and asbestos abatement. and building.
According to city records, NorthPoint Development, under the entity NP Eastland Commerce Center Industrial LLC, completed a $9.5 million purchase of the multi-plot site in September from New York-based Kohan Retail Investment Group. , which purchased the mall in 2018. NP Eastland also purchased the former Target store from Target Corp. for $1 million in September.