The Midwest is always a fascinating case study, but Michigan in particular presents some interesting food for thought. On a whole, the state doesn’t have to deal with some of the overcrowding and store closure issues we are seeing in other markets. A large part of that has to do with its underwhelming growth post-9/11 relative to other major markets. But I think interest is beginning to peak in Michigan, especially in the Detroit market, with more national brands looking at expanding in Michigan. In this edition of Retail Rap, I talk about Michigan’s retail struggles and long-term outlook with Ron Goldstone, senior VP at Southfield, Mich.-based Farbman Group.
Speaking with Ron Goldstone, senior VP at Southfield, Mich.-based Farbman Group really got my juices flowing about the Midwest retail real estate marketplace — Michigan in particular. The state’s retail real estate market is an interesting candidate for closer study, simply because the Detroit dynamic, even in its extremes, gives us a valuable perspective on the national landscape.
Check out the full article from my recurring column, Retail Rap, at Chain Store Age.