Detroit-Area Retail Attracting Investors

Fairlane Meadows, a 157,225-square-foot shopping center in Dearborn, MI

DETROIT—Time Equities Inc., a New York-based real estate firm, just acquired Fairlane Meadows, a 157,225-square-foot shopping center in Dearborn, MI for $20.65 million. Purchased from Farmington Hills, MI-based Ramco-Gershenson Properties Trust, the transaction marks TEI’s third and largest retail acquisition in the state. And the firm’s director of national retail Ami Ziff, who spearheaded this transaction, tells GlobeSt.com that it may not be the last.

“The Detroit area has a lot of hidden gems,” he says. “Some people portray Michigan in a very negative way, but I think that’s because they have never been there.” Many of the retail areas even remind him of New York’s glittering Soho district.