Detroit is adding three more tenants to the Z building downtown, evidence that commercial tenants are still looking for space. The commercial building, so named for its zigzag shape that spans from the corner of Library and Gratiot to the corner of East Grand River and Broadway, offers 10 floors, 535,000 square feet of space and 1,300 parking spaces. According to an announcement from Bedrock Real Estate Service on May 15, the three tenants include Citizen Yoga, 7 Greens and NoJo Kicks.
The 2,300-square-feet location inside the Z will be the second in Detroit for Citizen Yoga, a studio founded by Kacee Must. The studio is set to have classes seven days a week, starting this fall, and will cover basic yoga, Vinyasa and other types of yoga. The other location opened last year in Royal Oak.
7 Greens brings a salad eatery to the Z, featuring custom-made creations from the house caterer and chef Kelly Schaefer. The 1,400-square-feet space is expected to open in August of this year and will be open six days a week, Monday through Saturday, for both lunch and dinner.
The retail market is also present among the new tenants, with NoJo Kicks planning to open its 1,400-square-foot location on June 23. The store plans to open seven days a week starting in July and sells jeans, hats and collectible sneakers.
With this announcement coming on the heels of the news that Punch Bowl Social would be opening up a 24,000-square-foot location in the Z in November, it looks like the remaining 8,000 square feet of space may go quickly. Those with investment properties can take this announcement as a good sign that the Michigan commercial real estate market is heading in a positive direction.
Source: Mlive, “Three new retailers announced for Dan Gilbert’s ‘Z’ building in downtown Detroit” David Muller, May. 15, 2014