RETAIL
Developer: Gardner White Furniture Co. Status: Opening spring 2026 Investment: $5+ Million Footprint: 80,000 sq ft location in Kentwood Address: 4375 28th St SE, Kentwood, MI 550 Ring Rd, Portage, MI 8748 W Saginaw Highway, Lansing, MI Gardner White NOTABLE PROJECT
Description: Warren-based Gardner White Furniture Co. is stepping into West Michigan for the first time in its 113-year history and filling a gap in the market left by Value City Furniture’s bankruptcy. Its CEO attributed the company’s expansion to the west side of the state to strong real estate opportunities in the market.
Number of Retail Transactions
Retail transactions in Greater Grand Rapids totaled 43 in Q1 2026, down 19% from 53 a year earlier. However, activity is improving despite headwinds. Inquiries, listings, and deal flow are all up. Regional and national operators are driving demand, while local user activity remains flat.
Trendline
Source: Advantage CRE
Average Lease Rates
$14.18 / SQ FT
Retail lease rates remain relatively stable, rising 3.6% year-over-year to $14.18/sq ft in Q1 2026 from $13.69. Rates have ranged from $11.39 to $16.07 since 2022. Leasing inquiries are increasing, and previously vacant spaces, particularly in B/C centers, are beginning to fill.
Source: Advantage CRE
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