SpurLine Holdings and Midloch Investment Partners acquired 3737 Carpenter Road in Ypsilanti, Michigan, in suburban Detroit.
The 45,000-square-foot big-box store is in a retail shopping center anchored by Meijer and Target. The space was previously occupied by JoAnn Fabrics. It will now be occupied by VASA Fitness after a gut-renovation of the property is complete. The purchase price was $5.1 million.
Cory Gross of Marcus & Millichap in Denver facilitated the transaction on behalf of the buyers.
This transaction represents the second joint investment between SpurLine and Midloch. In May 2025, the firms acquired a vacant former Safeway grocery store in Longmont, Colorado. That space also became occupied by VASA Fitness, the health club operator expanding its brand and concept.
The Ypsilanti location is in the Ann Arbor area in metro Detroit. Ann Arbor is one of the state’s most concentrated hubs of knowledge-based employment, anchored by the University of Michigan, a top-tier public research institution and the region’s largest employer. Located approximately 45 miles west of Detroit, Ann Arbor benefits from strong regional connectivity via I-94 and US-23, providing convenient access to the Detroit metropolitan area, including the Detroit Metropolitan Airport.
Matthew Vandal, President, SpurLine Holdings, said the acquisition “recognizes the value creation inherent in the lease with Vasa, as well as the strong location and quality of the asset.” Vandal said the buildout is anticipated to take approximately 12 months, with completion and occupancy targeted for May 2027.
