ROYAL OAK, MI-The national fashion chain American Apparel in Los Angeles has opened its second store in Michigan by signing a 10-year, 4,150-sf lease with local property owner Wind River Properties, LLC.The property in which the store leased space is at 405 S. Washington St. and is part of a row of urban buildings in Royal Oak's central business district that were built during the 1940s. Eric Banks, vice president with Friedman Real Estate Group Inc. in Farmington Hills notes Royal Oak, an urban center, has a series of such buildings that are considered freestanding, but with zero lot lines. "This represents American Apparel's first entry into Royal Oak," adds Banks, who represented the landlord in the transaction. Banks tells GlobeSt.com that the fashion chain already opened a retail outlet in Ann Arbor in a separate deal. The quoted rate was $25 per sf, triple net, on an annual basis, and Banks acknowledges that the tenant got a market deal close to that, with landlord concessions such as "things related to the roof top, HVAC and some free rent," Banks notes.
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