NAI Mid-Michigan/TMN Commercial Negotiates Lease for 75,000 SF Former Younker’s Men’s Store at Meridian Mall
Okemos, MI March 22, 2019 – As more big box stores continue to shutter, repurposing the empty space to fill unmet needs is growing. Jeff Shapiro, Principal with NAI Mid-Michigan/TMN Commercial, recently represented High Caliber Karting and Entertainment in the negotiation of their 75,000 square-foot lease to open a kart track entertainment venue in the former Younker’s Men’s space at Meridian Mall. After negotiating a preliminary lease agreement with mall owner, CBL Properties, Jordan Munster of High Caliber Karting reached out to Shapiro to assist with the negotiations. Shapiro identified the need for immediate lease savings based on the adaptive reuse, lease structure and market drivers, and within two weeks’ time successfully negotiated an acceptable lease agreement between the mall owner and High Caliber Karting. High Caliber Karting and Entertainment plans to open by the end of the summer.
About NAI Mid-Michigan/TMN Commercial
Comprised of more than 30 real estate professionals, NAI Mid-Michigan/TMN Commercial provides leasing, management, tenant representation, construction, project management, capital markets and investment sales representation for owners and occupiers of commercial real estate in the Mid-Michigan market. It currently leases and manages a 3 million+ square foot portfolio of more than 250 commercial properties throughout Mid-Michigan. NAI Mid-Michigan/TMN Commercial is the Mid-Michigan-area representative for NAI Global, the world’s largest managed network of real estate service providers. NAI Global has more than 400 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. For more information, please visit www.naimidmichigan.com.