The Southfield City Centre district has an estimated 13,000 office workers, and more than one hundred Fortune 500 companies are located within the city’s boundaries. A new study by the International Council of Shopping Centers (ICSC) reveals the tremendous spending power of office workers and the opportunities that exist for retail, restaurant and service establishments located near office parks and buildings. The report shows an astounding $184 billion is generated annually from the purchase of goods, services and meals by office workers.
Robert Gibbs of Michigan-based Gibbs Planning Group, an urban economic and planning consulting firm, was interviewed by ICSC’s Shopping Center Today magazine about the office workers’ study. The Southfield City Centre Advisory Board recently commissioned Gibbs to conduct a Retail and Hotel Market Analysis in our district. Results of that study show Southfield City Centre can support an additional 645,000 square feet of retail and restaurant development.
Read the article about the spending power of office workers in Shopping Center Today magazine.
View the entire ICSC office workers study.