It’s no secret that retailers have begun to rethink their business model and shrink their footprint. Following suit; property owners have adjusted accordingly.
Presenting itself as a microcosm of the evolving retail landscape, was a full-service Pizza Hut Restaurant on the busy Telegraph Corridor in Taylor, Michigan. Over the last few years, the chain has moved towards their Pizza Hut Express concept, eliminating the need for their larger, iconic ‘hut design’ restaurants.
Frank Rakipi’s long-standing relationship with the property owner, resulted in meaningful conversations about the idea to redevelop the site into a modern four-tenant building that would appeal to smaller, service-oriented tenants. After an aggressive and targeted marking approach, Frank and Alex Gravlin of the Thomas Duke Company successfully lead the lease-up of this ground-up development with tenants that are bound to succeed in an ever-changing retail environment.
The success experienced on this project is an example of Thomas Duke brokers providing far more than just another transaction, we provided insight into changing trends and how ”highest & best use” can impact the value of commercial property.
If you’re interested in learning how changes in the marketplace are affecting your commercial property, please contact Frank Rakipi or Alex Gravlin at 248-476-3700.
