Property adjacent to the Fenton High School Football Stadium has been sold by the Fenton Area Public Schools. The 3.5-acre parcel between the stadium and the Speedway gas station was acquired by Keystone Commercial Real Estate. Dubbed the Target Outlet New Development, Keystone is currently seeking leases to develop the site.
The property sold for a reported $1.3 million. Funds from the sale will be used by the school district to make a number of improvements. The opportunity to sell the real estate was assisted by the Fenton City Council. At their December 11, 2017 meeting the council voted unanimously to rezone the property.
Keystone’s preliminary site plan shows a layout for 2 restaurants with Owen Road frontage. As well as space for a grocery store at the rear of the property.
Sample elevations show modernistic designed buildings in keeping with the existing business in the area.
Keystone’s lease portfolio lists some interesting demographics from their 2016 analysis. Traffic statistics report 9,569 vehicles per day(VPD) pass by on Owen Road. Nearby Highway U.S. 23 carries an average of 51,700 VPD through the Fenton area. An estimated number of 1,561 businesses operate within a 5-mile radius of the site. Those businesses employ an estimated 12,155 workers. Population and Household Income estimates show a solid base for any business to draw from. No wonder Fenton is such a popular area for new business startups.
We look forward to watching our community grow again and will keep you updated on developments as they occur. As always, look to The Lasco Press for the “good news” stories you want to read. Local, State, and National.