DETROIT-Kroger has sold its 54,000-sf store on Gratiot Avenue on Detroit's east side. Mike Koza, president of Livonia-based Group 10 Management Co., plans to reopen the store in the Shops at Northeast Village center as Mike's Fresh Market.
Terms of the sale were not disclosed. Koza purchased both the store's inventory and fixtures from Kroger and the property, which was owned by Southfield-based First Commercial Realty & Development Co.
With the Kroger sale, Detroit-based Farmer Jack Food Market is the only major chain with grocery stores in Detroit. Farmer Jack opened one of its largest stores on East Jefferson Avenue in Detroit in June 2003, and it also has a store on Livernois near Seven Mile Road.
Group 10 owns and operates hotels, video stores and two convenience stores and have previously operated grocery stores. The company's holdings include 17 Mammoth Video stores and part ownership of seven other Mammoth Video stores in Michigan.
Koza says he has been looking to buy a grocery store for about two years and plans to open more in Detroit, ranging in size from 30,000 sf to 40,000 sf. First Commercial has plans to add an additional 40,000sf of retail space to the Northeast Village and an additional vehicle entrance to the center, which is at Seven Mile and Gratiot.
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