It's sounding like Dan Gilbert scored some more quality retail space in Greektown, buying a large slice of the historic block Buffalo Wild Wings set up in last year. The 12,800-square-foot building currently houses Serman's Clothes, which plans on closing later this month after 96 years in business. With on-site parking and frontage wrapping around the corner, the Serman's building offers a unique retail opportunity for Mr. Gilbert. We also can't help but point out what looks like a juicy roof deck opportunity...
The 108-year-old clothing store has three floors, though the third story only extends 50' back from the street while those below go back 110'. From what we can tell, that means the top floor overlooks 60' of flat roof. Regardless of whether those floors become residential or commercial, so much accessible rooftop seems like a roof deck opportunity that would be criminal to squander. According to Loopnet, the building most recently hit the market last October.
On the ground floor, the building's depth means a large swath of blank wall facing Macomb Street. We don't know what the details of the building's interior layout, but punching out a couple smaller storefronts on that side of the building might be a better use of space than finding a tenant large enough to fill one large interior. A restaurant would seem like an obvious choice if this block weren't entirely made up of bars/eateries already. What do you see working best here, readers?
· Detroit Clothing Store Closing Doors After 96 Years Of Business [CBS]
· Listing: Serman's Building [LoopNet]
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