Eastern Market properties went on the market Thursday for a combined $30.9 million.
Why it matters: Firm Real Estate’s unloading of its Eastern Market portfolio represents a rare development opportunity in one of Detroit’s most popular areas.
State of play: Properties for sale include a mix of commercial buildings, vacant lots and mixed-use spaces.
- The most expensive is 2453 Russell St., which houses Supino Pizzeria and Zeff’s Coney Island, with a listing price of $4.2 million.
What they’re saying: Firm is open to selling the properties all at once or in standalone deals.
- “We think that being able to take them all to the market at one time is going to gather more attention for potential buyers or even owner/operators that are our tenants,” Firm operations manager Jeff Bartlett told Crain’s.
The intrigue: Firm is no longer affiliated with Sanford Nelson, whose stewardship over the Eastern Market properties drew criticism, including for a dispute that led to the 2019 closure of Russell Street Deli. Firm is now owned by a trust of Donald Foss, the late Credit Acceptance Corp. founder and CEO, per Crain’s…