An Ann Arbor couple chose a storefront on East Liberty near State for their first retail venture, signing a lease this week and starting renovations almost immediately.

This & That will open before the start of the Ann Arbor Art Fairs on July 21, co-owner Andrea Graef said.

Graef and her husband, Brian, are finalizing their merchandise lineup and negotiating exclusivity deals on some of it, she said. So she won’t yet say what type of store it will be.

“When you see, you’ll understand,” she says. “It’s a little of this, a little of that.”

The storefront at 611 E. Liberty St. housed 4 Seasons Perfume and Lingerie until the end of March, when that store was consolidated into Allure Boutique at 607 E. Liberty St.

The 1,260-square-foot store had been listed for rent at $38 per square foot, a top-of-market rate that rivaled other recent retail vacancies in the State and Liberty area.

But the rate is worth it, Graef said, given the volume of pedestrians in the corridor.

“All you have to do is watch the flow of traffic,” she said.

The location on Liberty also broadens her audience, she said, beyond the student base that drives many of the sales in the stores and restaurants along State Street.

Graef looked at most of the recent vacancies in the State and Liberty area before honing in on the former 4 Seasons space.

On East Liberty, she said, she’ll be able to attract theater-goers, shoppers at anchor stores Borders and Urban Outfitters and also the office employees from the blocks closer to Main Street.

Graef has a retail background, with stints at Jacobson’s and Macy’s. She and her husband have lived in Ann Arbor for about 8 years, and she’s spent the last couple of years volunteering with the American Red Cross, aiding with disaster relief.

She’s ready to move back into the work world with her first store, choosing to open in the town where she “loves living.”

Interior remodeling started this week. Graef is taking down old displays, removing old carpeting, reconfiguring window displays and planning to paint.

A new awning outside is planned, too. And, in tribute to her granddaughter, she’ll build a fairy door inside.

She won’t give specifics on what the interior of the store will look like, since that’s too close to divulging the merchandise.

But she promises a unique, inviting look.

“I think it’ll make a big splash when it opens,” Graef said.

Contractors and vendors are mostly based in Michigan, she added.

“I’m making sure that I bring Michigan products in,” Graef said.

Eventually, the concept the family is launching on East Liberty could grow into more stores.

“If this goes well, we’ll want to be able to expand in the area,” Graef said.

Paula Gardner is Business News Director of AnnArbor.com. Contact her at 734-623-2586 or by e-mail. Sign up for the weekly Business Review newsletter, distributed every Thursday, here.