A location for Kmart's continuing southeast Michigan office employeeshas not yet been announced. An announcement is expected to be made within the next two months informing employees at the Kmart headquarters who will be asked to relocate to suburban Chicago, who will remain working locally and who will be laid off. Aylwin Lewis, Kmart's chief executive officer and president, declines to provide further details.
About 1,800 work at Kmart's existing Troy office complex. The office once had as many as 5,000 employees.
Before the merger, the discount retailer had been planning to move its headquarters to a smaller building in Michigan, or another state. Real estate development experts say they expect that in the long term, some or all of the Kmart site in Troy probably will be redeveloped as a mixed-use project.
The Big Beaver Road site has an assessed value of $12 million, but would likely sell for more given its close proximity to Somerset Collection, one of the state's premier shopping malls.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
