Development Case Studies

Wanda Extra Space Storage of Ferndale

SYMMETRY MANAGEMENT DEVELOPS SELF-STORAGE FACILITY IN FERNDALE – ONE OF SOUTH-EAST MICHIGAN’S UP & COMING MARKETS

In July 2021 Symmetry Management acquired a 1.89-acre land parcel in Ferndale, Michigan. The site had remained unused for years, but Symmetry Management saw the opportunity for re-development of the existing warehouse totaling approximately 56,134 square feet.

Partnering with Extra Space Storage, and Ronnisch Construction, Symmetry Management is in the process of converting the existing facility into a state-of-the-art appx. 600-unit self-storage facility. The project is slated for completion in Q1 2023.

The site is excellently located off 9-mile with immediate access to I-75 which collectively sees over 17,000 vehicles per day. In a 5-mile radius surrounding the subject property, there are approximately 386,319 residents and 156,649 households. Due to the dense population and heavy traffic flow, Symmetry management was able to identify and fill an immediate demand for self-storage in the market.

12 & NW

SYMMETRY MANAGEMENT ADDRESSES CHANGING MEDICAL TENANT DEMAND FOR OFFICE SPACE IN SOUTHEAST MICHIGAN

In August of 2019, Symmetry Management acquired a 2-story 32,000 SF office building directly located off Northwestern Highway in Southfield, MI. The site is situated in a prime retail and office corridor with nearly 60,000 daytime employees within a 3-mile radius.

Symmetry Management plans to redevelop, update, and expand the existing gross leasable area to create a total of 40,000 to accommodate the market’s growing demand for medical office space. Partnering with NORR Architects and Ronnisch Construction, the project is set for full completion in Q4 2022.

Shoppes of Livonia

SYMMETRY MANAGEMENT LEADS THE DEVELOPMENT OF BRAND-NEW CHICK-FIL-A & GROCERY-ANCHORED CENTER

In 2019, Symmetry Management identified the opportunity to acquire an 8 AC land parcel on the heavily trafficked corner of Plymouth and Middlebelt Rd. in Livonia, MI. Symmetry completely reimagined the site and led to the partial demolition of the existing building and the development of a brand-new stand-alone Chick-fil-A and grocery-anchored retail shopping center. The project, set for completion in Q1 2023, will feature the first double-lane drive-thru Chick-fil-A in the state of Michigan. Symmetry has secured a national grocery tenant for the adjacent building, bringing a highly desired brand to an untapped market. The site also features an additional 22,000 SF of retail space and a 6,000 SF out-lot.

The property is positioned on the hard corner of Plymouth and Middlebelt which sees an average of 45,000 vehicles per day, while also having direct access to I-96 (±136,000 vehicles per day). With terrific positioning and a lack of direct competition in the area, Symmetry Management felt confident that the property would create value and drive further economic development in one of the area’s most desirable retail corridors.

Howell

SYMMETRY MANAGEMENT ACQUIRES RETAIL POWER CENTER IN HOWELL, MICHIGAN – PLANS FOR IMPROVEMENT

In April 2022, Symmetry Management acquired Grand River Plaza in Howell, Michigan, an affluent community approximately 60 minutes north of Detroit. The concept is clear in real estate, as owners of multi-tenant centers strive for the optimal tenant mix that provides long-term performance through growing consumer demand and consistent rent growth. To achieve this goal and drive strong credit tenants to the center, Symmetry plans to modernize the power center and make several capital improvements including roof and parking lot updates.

Working across departments – due diligence, legal, finance, acquisitions, development, and asset management – Symmetry Management demonstrates that it is a hands-on real estate company with a clear vision and understanding of market demands.

Hartland

SYMMETRY MANAGEMENT DEVELOPS NEW DRIVE-THRU RETAIL CENTER IN HARTLAND, MI.

Since being acquired in 2015, Symmetry Management has made several improvements to Hartland Plaza, a formerly grocery-anchored shopping center in Hartland, Michigan. Symmetry Management oversaw the complete demolition of the existing Dairy Queen adjacent to the center and led the development of a brand-new center equipped with a drive-thru for dairy queen and other end-cap tenants. Symmetry Management has identified an opportunity to pursue higher-quality tenants that would drive the center’s leasing demand as well as grow rental rates. A lease with Planet Fitness has been signed with plans to redevelop their 24,000 SF space, also creating the ability to add on an additional 40,000 SF in the future. Symmetry has partnered with Cityscape Architects and Ronnisch Construction to execute the project – Development is slated for completion in Q3 2022.

Vibe of Plymouth

SYMMETRY MANAGEMENT INTRODUCES NEW SALON SUITES CONCEPT IN PLYMOUTH, MICHIGAN

In 2019, Symmetry Management acquired a 2.20 AC land parcel in the desirable, up & coming community of Plymouth, Michigan. Symmetry Management saw the opportunity to re-development the existing shopping center bringing the gross leasable area to 17,000 SF. In addition to improvements made to the site, Symmetry also introduced the flagship store for Vibe Salon Suites, a 28-suite salon space for independent beauty professionals.

The site is strategically positioned in the prime retail corridor of Ann Arbor Road with immediate access to I-75. Both roadways combined see an average of 120,000 vehicles per day. In the 5-mile radius surrounding the subject property, household income averages $110,632 with a population of over 200,000. By developing a strong anchor brand and making several capital improvements to the site, Symmetry has been able to secure a diverse mix of regional and national tenants with long-term leases in place through 2034.

Vibe of Woodhaven

SYMMETRY MANAGEMENT TO REDEVELOP FORMER CREDIT UNION – OPENS FIRST DOWNRIVER LOCATION OF VIBE SALON SUITES

In February of 2022, Symmetry Management acquired a 1.40 AC land parcel and a 6,915 SF former Credit Union in Woodhaven, MI. The site is directly located off Allen Road and Shadow-anchored by a high-volume Meijer. The 2-mile radius surrounding the subject property is a densely populated retail corridor with heavy traffic volume. In 2022, the average household income reached nearly $90,000 while the corner of Allen Rd and Meijer Dr. saw upwards of 30,000 vehicles per day.

Due to its ideal positioning and affluent demographics, Symmetry Management identified this site to be the first Downriver location of Vibe Salon Suites, a Symmetry-owned luxury salon suites brand. The former credit union is in the process of redevelopment to create a 9,500 SF facility with 36 brand-new, state-of-the-art salon suites to be independently leased by beauty professionals. In partnership with Ronnisch Construction and Krieger-Klatt Architects, the location is slated to open in Q3 2022.

Vibe of Birmingham

SYMMETRY MANAGEMENT BRINGS VIBE SALON SUITES TO DOWNTOWN BIRMINGHAM, MI

In 2021, Symmetry Management embarked on the redevelopment and renovation of a 7,118 SF space located in the heart of Downtown Birmingham, directly positioned off Old Woodward Avenue. The space is set to become Birmingham’s first branch of Vibe Salon Suites. This location will feature 12 luxury salon suites for independent beauty professionals and Vibe’s very own in-house café, Platinum Coffee Bar. In partnership with Krieger Klatt and Ronnisch Construction, this location is set to open in Q1 2023.

12 & JR

SYMMETRY MANAGEMENT SIGNS LEASE WITH CONSUMERS ENERGY | REDEVELOPS FORMER DETROIT TRUCK FACILITY

In 2021, Symmetry acquired the 5.45-acre parcel formerly occupied by Detroit Truck. The property is strategically located at the hard corner of 12 Mile & John R with close proximity to major retailers including Lowes, Home Depot, BJs Wholesale, Starbucks, Mcdonald’s, and more. Being a heavily trafficked retail corridor, Symmetry Management saw an opportunity to reimagine and bring life back to the space.

In partnership with Ronnisch Construction, Symmetry Management plans to fully redevelop and customize the existing facility for Consumers Energy. In addition to several building improvements, Symmetry plans to pave a 1.75-acre section of the grassy area on the east side of the parcel. In doing so we will also be installing underground detention.

812 S Main St.

SYMMETRY MANAGEMENT MOVES HEADQUARTERS TO DOWNTOWN ROYAL OAK | COMPLETE REDEVELOPMENT OF FORMER LA INSURANCE BUILDING

In Q1 2021, Symmetry Management underwent the complete redevelopment of the former LA Insurance Building located in the heart of Downtown Royal Oak, Michigan. As business continued to rapidly expand, Symmetry saw the opportunity to transform the space into their new office headquarters and plant roots in Royal Oak, one of Detroit’s most affluent and fastest-growing submarkets.

In addition to complete replacement of the building’s façade, Symmetry redeveloped and modernized the interiors of both upper and lower-level suites. Improvements to the spaces include polished concrete floors, modern glass offices, and conference areas, a newly paved parking lot, and much more.

12 & Mound Warren Car Wash

SYMMETRY MANAGEMENT DEMOLISHES FORMER BEST PETES STORE | BRINGS CARWASH CONCEPT TO WARREN, MI

In May of 2022, Symmetry Management acquired the former Best Pets store located at the corner of 12 Mile & Mound Rd in Warren, MI. After seeing a better opportunity at such a heavily trafficked corner, Symmetry led the demolition of the current storefront and the development of a brand-new car wash concept.

Symmetry has partnered with Ronnisch Construction and Mr. Car Wash, one of Michigan’s fastest-growing car wash franchises, to bring the project to life. The plans include a ground-up development that will feature a 5,400 SF 3-lane car wash equip with 21 vacuum spaces. The project is set for completion in Q2 2023.

Managing over 2 Million SF of Commercial Real Estate