There has been a recent explosion of commercial interest in the West Michigan markets, leading to an increasing number of new developments and purchases of properties. One of the biggest, most talked about transactions and developments comes in the form of the Greater Grand Rapids area's first outlet mall. Unlike the outlet mall in Holland that was unable to maintain business and traffic flow, eventually losing all of the major outlet stores it once contained, the newly constructed Tanger Factory Outlet Center will boast nearly 80 stores and hopes to be a major draw for shopping traffic south of Grand Rapids.
Located in Byron Center, one of the southernmost suburbs of Grand Rapids, the Tanger Factory Outlet Center represents a massive real estate and development investment in West Michigan, with an estimated price tag of $79 million. The address of the Tanger Outlets Grand Rapids is 350 84th St. SW, Byron Center, making this new outlet mall easily accessible via the US-131 highway. The completed building is roughly 350,000 square feet and was built in under a year, as the official groundbreaking for the construction of the Tanger Oulet mall began on August 21st, 2014. Estimates indicate that the sales generated by this outlet mall should generate approximately $7.3 million annually in sales tax.
For those who are interested not in the development of the Byron Center region and the impact on the local economy but rather in discounted shopping options, there's good news. The grand opening event will be held this Friday, July 31st, beginning with a ribbon-cutting ceremony at 10 am. There will be an ongoing celebration, dubbed the Tanger Outlets Grand Rapids’ Art of Style and Savings, which will run from July 31st through August 2nd. Events will include personal styling sessions at the Celeb Stylist Studio, a fireworks display, interactive displays, and special deals to help the doorbuster customers save even more on their outlet purchases. There will also be giveaways, including a $3,000 shopping spree, a special design workshop with Jonathan and Drew Scott from “Property Brothers,” and a $5,000 Dream Closet Makeover sponsored by Closet and Room Solutions.
For the Tanger company, this will be their third outlet mall installation in the state of Michigan, and the interest in building it 11 miles south of Downtown Grand Rapids speaks to the increasing solvency of the west side of the state and the ongoing potential for development and investment in this region. While the estimated 900 jobs brought to town by these new retail shops will mostly be low-paying positions, it will certainly increase the value of rentals and investment properties in Byron Center, southern Wyoming, and even nearby towns like Dorr.
For those with properties in these areas, reasonably priced rentals, whose target demographic will be the 900 or so full- and part-time retail employees flocking to the Byron Center area, will likely become increasingly high in demand and easy to fill. As the influence of the mall spreads and induces other companies to develop spaces nearby to take advantage of the large crowds of bargain hunters that will visit this space, many more nearby properties are likely to become retail centers and restaurants as well. Best of luck to those attending the opening ceremony and to those looking forward to the positive economic impact that this outlet represents for the local community.