Thursday, October 25, 2018

Huge Commercial Opportunity for Local Business

Hobby Lobby Brings New Opportunities
to Local Business Owners

Cash in on the buzz surrounding the newest addition to the Buffalo Ridge Center.

With the construction of Hobby Lobby now underway, it’s clear that a bright future is in store for the former Horizon Outlet Mall. Hobby Lobby is the newest addition to the Buffalo Ridge Center which has seen major improvements since the property changed hands back in 2012.

The development began with the construction of a 14-screen multiplex cinema, a project that brought the first IMAX to Northern Michigan. The opening of the theater was closely followed by the construction of Lucky’s Market, next to the existing Outback Steak House. Lucky’s was another highly anticipated addition to the center.

“I wanted to create a destination that brought high quality food, entertainment, and merchandise to a shopping center that was previously obsolete,” said Joe Sarafa, a partner and developer of the center, located on US-31 South (at the light across from Lowe’s.) “With Hobby Lobby under construction, I think we very are close to achieving that goal.”

Commercial real estate in and around Traverse City is booming. As more and more businesses flock to the area, demand for retail space is far outweighing the supply. According to MLS data, in just the first six months of 2018, commercial sales in Traverse City have risen 16.4 percent and the number of leases has increased by over 34 percent.

The addition of these major retail tenants is proof that businesses want to be in Traverse City, despite it being a relatively small market for stores of this size. Hobby Lobby is no exception. Once complete, the building will add 55,000 square feet of retail space, creating dozens of jobs and driving even more traffic to the center.

So how can your business benefit from all this new growth and activity? The developer has teamed up with local real estate broker, Homewaters LLC, to create a custom space to suit all of your business needs. If you’re looking for more offices, a new store front, extra parking or even a drive-thru, we can accommodate you.

Imagine setting up shop in a brand-new space designed to your specifications, (one or two-stories, up to 14,000 sq. ft) without the hassle of purchasing land, construction, financing, and costly maintenance.

This type of listing is usually only offered to large national retailers, but now it’s available for your small to medium size business! “There’s a fantastic out-lot near the AMC Theater. It’s a great location for any new or growing business,” said Sarafa.

Contact Joseph from Homewaters at (231) 631-3345 to schedule a showing and find out if your dreams can become a reality.