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15Colliers International

Bridge Street Development

an abundance of leveraged buy-outs of retailers by private remained high, yet we experienced some significant
equity firms, creating a massive debt burden. At the same announcements and closings. In 2018, we predict
time, lenders are becoming more and more weary of national brands will continue to consider West Michigan
helping to refinance loans for these companies, which and find creative ways to penetrate the market. Restaurants
could create some turmoil for some retailers in 2018. will see demand, and downtown retail will continue to
evolve and mature.
All told, we expect the West Michigan retail market to
remain positive this year. 2017 was unique, as demand

CURRENT ECONOMIC CONDITIONS INDEX STORE GROWTH

Source: Survey of Consumer, University of Michigan Source: IHL Group

120

110 Fast food 2,026
1,905
100 Mass merchandises 1,700

Convenience Stores

90 Bars/restaurants 728

80 Supermarkets 674

Drug stores 345

70 Specialty hardgoods 153

Superstores/wholesale clubs 82

60 -400 Department stores
Specialty softgoods
50 -3,133
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

3 month moving average Monthly data