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November 3, 2014

Success Beyond The Sale

The Thomas Duke Company’s recent sale of a retail center at 29650 Wixom Road in Wixom is just one part of that property’s success story.

When the owner engaged the Duke Company, the center suffered from a high vacancy rate and sluggish retail activity. We saw that obstacle. But we also saw behind it—to the pent-up demand of investors for attractive properties in strong communities. Located near I-96 in a high-volume traffic corridor, this retail area was well positioned for growth.

By applying our carefully developed marketing strategies, we secured a qualified purchaser for the property within thirty days. Sixty days after that, the sale was successfully completed, and at a price-per-square-foot above the market average. Not only that: We also had a handful of backup offers ready, should the first one have fallen apart.

And there’s more to this success story. Since the sale, we’ve used our marketing expertise to help the buyer find new tenants for the center. Plans are in the works for new retail tenants in over half of the once-vacant spaces.

This success story is evidence that the local retail sector is growing. Both buyers and lending institutions have noticed that there are more tenants looking for space and that the rate of return on retail-space investment is very attractive compared to other sectors.

It’s also more evidence that the Thomas Duke Company has honed a successful approach to marketing real estate. To put that approach to work for you, call Eric Szerlag or Mark Szerlag at 248-476-3700.  To view a list of over 650 properties we represent, or for more information on our company, please visit our website at www.thomasduke.com.

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