Overview Real Estate

Downtown Traverse City offers retailers a very strong retail destination, a variety of space size and price, the region's best tourist traffic, and a central location in Michigan's fastest growing retail market.

The region's most dynamic retail district

  • Downtown's retail vacancy rate is below 4%.
  • Over 5,000 downtown employees enjoy shopping and dining downtown every day.
  • The DDA District is home to 800 residents.
  • Downtown Traverse City is home to the area's finest women's clothing, jewelry and home accessory stores.
  • Tourist attractions include two public beaches, the Grand Traverse Heritage Center and Historical Museum, City Opera House, the State Theatre, and downtown itself draws millions of tourists every year.
  • Downtown Traverse City is the only major retail area located in the middle of the region's highest income census tracts.

The Traverse City's largest and strongest office submarket: 

  • Three quarters of a million square feet of office space and a healthy 2007 vacancy rate of 7.5%
  • Office inventory has increased 20% since 1997
  • Downtown Traverse City is the Northwest Michigan's financial center with over 25 financial service businesses.
  • Downtown is home to many major nonprofits including the Traverse City Area Chamber of Commerce, Traverse City Convention & Visitor's Bureau, Rotary Charities, Michigan Land Use Institute, Traverse City Film Festival.
  • Regional media organizations are located here such as the Traverse City Record Eagle, Midwest Broadcasting, Traverse - Northern Michigan's Magazine, Traverse City Business News, ABC 29&8, Foreword Magazine and more.

Services for New and Growing Businesses

 

The Traverse City Area Chamber of Commerce, through the Traverse Bay Economic Development Corporation, offer assistance to businesses seeking marketing, business plan, and other technical help.  Contact the   Traverse Bay EDC at (231) 995-7105 for more information.

 

You can also contact the Regional Small Business & Technology Development Center at (231) 922-3780 for business counselling, marketing assistance and job training services.

 

Get help starting a business through the State of Michigan's One Stop web site.

 

Demographics

 

In 2007, the Downtown Development Authority completed a market analysis focused on retail, office and housing trends in downtown and Grand Traverse County.  You can view the full report or the executive summary here. 

 

Another good sources of demographic information is the Northwest Michigan Council of Governments.