Midloch Investment Partners And SpurLine Holdings Acquire Former JoAnn Fabrics For $5.1M In Ypsilanti

The property asset involved in the transaction is a retail asset located at 3737 Carpenter Road in Ypsilanti, MI. The sale was finalized on July 13, 2026, for a price of $5,100,000. The asset encompasses a total area of 45,000 square feet, resulting in a price per square foot of $113.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,100,000
• Address: 3737 Carpenter Road
• Market: Ypsilanti, MI
• Square Footage: 45,000
• Price Per Square Foot: $113
• Buyer: Midloch Investment Partners & SpurLine Holdings
• Broker: Cory Gross - Marcus & Millichap

SpurLine Holdings and Midloch Investment Partners are collaborating to renovate the former JoAnn Fabrics store with plans for occupancy by VASA Fitness by May 2027. This project marks their second joint redevelopment initiative for VASA Fitness.