Property Info

Zetabid is pleased to present this private exclusive sealed bid sale of Logan Square; one of Lansing Michigan’s largest community retail centers. The center is approximately 270,000 square feet on 18.5 acres with 1,756 parking spaces (over 6:1000). Additional development of out-parcels is feasible with the frontage and excess parking (subject to any parking requirements created by tenant use, government planning and zoning regulations). With 70% vacancy and pricing near $18/SF, this represents a strong opportunity for institutional value add retail developers to consider. The main building was built in the 1960's and served as a major retail hub of Lansing, the state capital of Michigan, and is part of the Lansing/ East Lansing MSA with over 470,000 residents and annual household income of $50,000 per year. A second 36,000 square foot building was built in the late 1980s. Occupancy for the older center is 22% and the newer building stands at 76% occupied (blended 30% occupancy).

For Offering Memorandum and diligence documents please click the button on the top right.

  • State : MI
  • Property Type : Retail
  • Square Feet : 270000
  • Lot Size : 18.5 Acres
  • Year Built : 1962
  • Building 2 Year Built : 1988
  • Original Center Year Built : 1962
Status:Active

Additional Information

Zetabid is pleased to present this private exclusive sealed bid sale of Logan Square; one of Lansing Michigan’s largest community retail centers. The center is approximately 270,000 square feet on 18.5 acres with 1,756 parking spaces (over 6:1000). Additional development of out-parcels is feasible with the frontage and excess parking (subject to any parking requirements created by tenant use, government planning and zoning regulations). With 70% vacancy and pricing near $18/SF, this represents a strong opportunity for institutional value add retail developers to consider. The main building was built in the 1960s and served as a major retail hub of Lansing, the state capital of Michigan, and is part of the Lansing/ East Lansing MSA with over 470,000 residents and annual household income of $50,000 per year. A second 36,000 square foot building was built in the late 1980s. Occupancy for the older center is 22% and the newer building stands at 76% occupied (blended 30% occupancy).

Starting Bid: $3,999,999
  • Buy Now Price :$4,250,000
Auction Start: 01/01/2018 12:00 am
Auction End: 02/24/2018 4:00 pm
  • Time Zone :Eastern
  • Bids Received :4
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Documents

Important Information

  • Buyers Premium :2.5%
  • Broker Coop :1%
  • Financing :No
  • Inspection Contingency :Yes
  • Showings :By Appointment

Auction Contact

Broker Contact

  • Name :None
  • Phone :(424) 888-6068