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Old Town Broker Luncheon

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Information on Old Town, the Old Town Commercial Association services for business owners and current properties available for lease or purchase.

Information on Old Town, the Old Town Commercial Association services for business owners and current properties available for lease or purchase.

Published in: Real Estate, Business

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  • 1. BROKER LUNCHEON M A Y 9 TH, 2 0 1 2
  • 2. BROKER LUNCHEON – AGENDA• 11:30am – Open Networking• 11:45pm – Introductions• 12:00 – Old Town Market Overview• Historical Perspective• Statistics & Demographics• Success in Old Town• Current Opportunities Leases Purchase opportunities• Promotional & Marketing Support• Festivals and Events• 12:45 – Questions and Answers• 1pm – Tour of select Old Town properties available (Optional)
  • 3. HISTORICAL PERSPECTIVE• Over the past 15 years the Old Town district has grown from a forgotten commercial corridor riddled with 90% vacancy rate and deteriorated historic buildings.• Through vision, cooperation and strategic development, the Old Town community now celebrates a mere 9% vacancy rate.• The neighborhood is now home to eclectic eateries, boutiques and galleries as well as 111 festivals and events that keeps consistent foot traffic year around.• The kitschy community, founded by artists in the 70’s, has now become a destination for the arts, boasting the highest concentration of creative service businesses in Michigan.• The restored buildings set the stage, lining Lansing’s Grand River and beautiful River Trail.
  • 4. Statistics & Demographics In Old Town Trade AreaPopulation 2007 307,449 2012 Projected 314,631Households 2007 123,799 2012 Projected 127,663Per Capita Income 2007 $28,031 2012 Projected $33,802Median HH Income 2007 $51,241 2012 Projected $60,181Median Age 2007 32.5 2012 Projected 33.3
  • 5. SUCCESS IN OLD TOWN: PAST 12 MONTHS• Aggie Mae’s Bakery & Deli• Artie’s Filling Station• Greenfield Collection Antiques
  • 6. SUCCESS IN OLD TOWN: 1-2 YEARS• Love, Betti - one year• Tallulah’s Folly – two years• Cravings – two years• Lamb’s Gate - two years
  • 7. SUCCESS IN OLD TOWN: LONG TERM• Grace Boutique – 5 years• Preuss Pets – 6 years• Absolute Gallery – 8 years• October Moon – 10 years
  • 8. CURRENT LEASING OPPORTUNITIES• 226 East Grand River – (potential restaurant/bar) • 3,000 sq. ft. main level & 2,500 sq. ft. basement• 1218 ½ Turner St. – (artist studio/office space) • 800 sq. ft. at $800 per month• 1103 N. Washington • 1,680 sq. ft. at $12 per sq. ft.• 920 N. Washington – (The Rouse/Sattler House) • 3,068 sq. ft. at $14 per SF• 600 W. Maple St. – (Neighborhood Empowerment Center) • Suite A 730 sq. ft., Suite B 700 sq. ft. at $16 per SF• 1235 Center St. – (office/warehouse)• 1300 N. Grand River – (former Mike’s Drive Thru) • 2,000 sq. ft. at $950 per month• 310 N. St. – (warehouse) • 4,000 sq. ft. at $800 per month• 527 E. Grand River Ave. – 2 offices: • 1,300 sq. ft. & 2,300 sq. ft.
  • 9. CURRENT LEASING OPPORTUNITIES CONTINUED• Cedar Street School – (mixed-use suites)• 1213-1215 Turner St. – (potential restaurant space) • 3,080 sq. ft. with additional 1,500 sq. ft. basement• 319 Clinton St. – (office/warehouse) • 5,600 sq. ft. warehouse space with additional 1,000 sq. ft. office space• 408 E. Grand River – (former Redhead Design) • 1,240 sq. ft. commercial space, 900 sq. ft. enclosed courtyard, 900 sq. ft. dry basement• 1135 N. Washington Ave – (Walker Building) • 3,130 sq. ft. and 1,274 sq. ft. first floor commercial spaces available• 821 N. Washington Ave – (Lease Commercial Property) • 1,253 sq. ft. second floor office space at $14.37 per sq. ft.• 1000 N. Washington Ave • 2 – 300 sq. ft. offices at $390 per month.• 226 W. Grand River • 1,759 sq. ft. store front at $1,000 per month.
  • 10. CURRENT SALE OPPORTUNITIES• 226 East Grand River – (potential restaurant/bar) • 3,000 sq. ft. main level & 2,500 sq. ft. basement• 1103 N. Washington • 1,680 sq. ft. at $143,000• 920 N. Washington – (The Rouse/Sattler House) • 3,068 sq. ft. at $223,900• 1235 Center St. – (office/warehouse) • Approx. 10,000 sq. ft. at $350,000• 1300 N. Grand River – (former Mike’s Drive Thru) • 2,000 sq. ft. at $150,000• 521 East Grand River – (barbershop downstairs, residential upstairs) • 1,400 sq. ft.• 718 Grand River – (former restaurant) • 4,664 sq. ft. at $143,500• 319 Clinton St. – (office/warehouse) • 5,600 sq. ft. warehouse space with additional 1,000 sq. ft. office space at $225,000
  • 11. CURRENT SALE OPPORTUNITIES CONTINUED• 408 E. Grand River – (former Redhead Design) • 1,240 sq. ft. commercial space, 900 sq. ft. enclosed courtyard, 900 sq. ft. dry basement• 1000 N. Washington Ave. • 4,000 sq. ft. office building at $139,900• 805 Seymour • 4,012 sq. ft. apartment building at $89,900• 415 E. Saginaw – (formerly Bonnie’s Place) • 1.71 acres at $599,900• 927 N. Capital • 3,390 sq. ft. income property at $22,000• 523 E. Grand River • 2,260 sq. ft. income property/store front at $119,500• 226 W. Grand River • 1,759 sq. ft. at $90,000
  • 12. PROMOTIONAL & MARKETING SUPPORT:INCENTIVES, SUPPORT AND DESIGN SERVICESOld Town has the highest concentration of historicalbuildings in Lansing. In partnership with the City of Lansingand the Michigan Main Street Program, Old Town propertyowners can work to maintain or restore the historicintegrity of the properties through programs like MichiganMain Street Design Services. Whether you are looking forassistance with paint colors or looking for something ascomprehensive as schematic drawings with budgets,product samples and the like, OTCA can provide that withthe help of a State Historic Preservation Office architect,free of charge.
  • 13. PROMOTIONAL & MARKETING SUPPORT: BUSINESS ASSISTANCE TEAM• As a member of the OTCA, businesses have the ability to meet with a customized panel of experts donating their time in order to continue to strengthen the business community in Old Town Lansing.• Local experts in the field of marketing, finance, building maintenance, and business growth are just some of the tools available to you.
  • 14. PROMOTIONAL & MARKETING SUPPORT: WAKE UP OLD TOWN• Connect with businesses owners in and around the Old Town neighborhood at this free networking event held at rotating businesses each month.• Wake Up Old Town is held the first Friday of every month hosted by Old Town member businesses. Each month is another opportunity to share and connect for a strong business community.
  • 15. PROMOTIONAL & MARKETING SUPPORT: PEER-TO-PEER COUNSELING• When starting a business, everyone seems to have advice and best practices to share, but only a handful have experiences the rollercoaster of emotions and experiences that are involved in being a business owner.• The Old Town Commercial Association pairs each new business, upon request, with a veteran business owner in a similar field. This partnership will hopefully provide any emerging entrepreneur the support necessary to realize his or her dream.
  • 16. PROMOTIONAL & MARKETING SUPPORT: MARKETING SUPPORT• With the highest concentration of creative service businesses in the state, there is no shortage of talented creatives to help provide a brand and marketing direction for your business.• But when the project or business budget doesn’t allow for professional support, OTCA staff designers can assist in making sure that you are communicating a brand that is quality, just like your business.
  • 17. PROMOTIONAL & MARKETING SUPPORT: COOPERATIVE ADVERTISING• Running a business isn’t just about having a fabulous product or service, but also about being able to market that product or service to people within your demographic.• The OTCA can assist by offering cooperative advertising opportunities in several different types of medias that fall within the demographic commonly found in Old Town and consistently branded with the quality, creative and colorful Old Town appeal, all at a reduced rate for OTCA member businesses.
  • 18. PROMOTIONAL & MARKETING SUPPORT:FREE OR DISCOUNTED SBAM MEMBERSHIP• Members of the Old Town Commercial Association receive free membership to the Small Business Association of Michigan and discounted membership to the Greater Lansing Convention & Visitors Bureau.• Each of these organizations offer of a variety of services to businesses including discounted credit card processing, COBRA Administration, Blue Cross Blue Shield benefits, event listings, advertising opportunities and more.
  • 19. FESTIVALS & EVENTS• The Old Town Commercial Association and many other organizations host over 100 events in the Old Town neighborhood each year.• These events bring tens of thousands of people to the community with over 50% of event attendees coming from outside Ingham County.• Many come to the neighborhood for the first time to enjoy the district and its many shops and businesses.
  • 20. FESTIVALS & EVENTS• Pickin in the Park – Tuesdays May-October 6pm to dusk• First Sunday Gallery Walk – First Sunday of every month Noon-5pm• Taste & Tour of Old Town – First Saturday in April• Old Town Farmers Market – First Sunday May-October• Chalk of the Town – First Saturday in June• Michigan Pride – Second weekend in June• Old Town Scrapfest – Third week in June• Festival of the Moon – First Friday after Summer Solstice in June• Festival of the Sun – First Saturday after Summer Solstice in June• Turner St. Outdoor Theater – Each Friday in July• Lansing JazzFest – First full weekend in August• Old Town BluesFest – Third full weekend in September• Old Town Oktoberfest – Early October• Compassionate Feast – Monday before Thanksgiving• Old Town Dickens Village – First Saturday in December

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