According to Crain's Detroit reporter Nancy Kaffer, the former Kmart Corp. headquarters site in Troy has been sold to Forbes Frankel Troy Ventures L.L.C.
Forbes Frankel also owns The Somerset Collection. This is somewhat surprising news because last September, Farmington Hills-based developer Grand Sakwa Properties L.L.C. signed a purchase agreement for the property.
From a business perspective, the Forbes Frankel purchase appears to make a lot of sense because they will be positioned to enhance the value of The Somerset Collection property and its many retail outlets.
You can read Kaffer's article at http://www.crainsdetroit.com/article/20100106/FREE/100109953
K-mart..k-mart..the largest polluter in TROy's Histroy..nxet 2 the DDA's crazy ideas..and Forbes Frankel one of the SUPER-RICH of TROY.a very secert type person.
ReplyDeleteMaybe he will come up with a better idea than the ones before. I don't care how rich he is, he has earned his money. I just hope he
ReplyDeletedoes something nice with the property.
not caring about the money,..I said the land never was NOT in control of SAM Frankel..he never lost any money on this land.building..BUT this land/building has over 1/2 million bucks of the DDA's money in JUST flowers on it,,and the CITY kicked out the TEA PARTY people.from using that Lot,COUNCIL WADE--BIG tea BAG PERSON,public record,and saw 1st hand,,him and and the YOUNG lad,.,that run with him,,holding signs...TROY as the paper states,,STILL maintians the Land and BUILDING..sweet deal 4 the super -rich,,SAm IS stilling using tax bucks,,on the SUPER-rich,,and soon this land will be tax free,,the P-man's LAND BANK,the super-rich NOT 2 paid TAX,,as all the lost tax fROM.."peter's FOLLY" the transit,,TAX lost over 1 million and still counting..
ReplyDelete