More than 20 acres of vacant land along 28th Street are for sale.
Celebration! Cinema is selling the former Studio 28 property in Wyoming, at 1350 28th St. SW, for $250,000 per acre, or $5,132,500, according to Colliers International West Michigan, a commercial real estate brokerage, today.
The property is being marketed by Colliers as an "opportunity for local or national retailers who want to be in the area but haven’t had the opportunity yet."
“This land has been vacant for nearly a decade, and it is a clean slate with a large footprint,” said Mark Ansara, associate vice president, Colliers International West Michigan. “We’re looking forward to getting it back into production and spurring economic growth.”
Studio 28 opened in 1965 and closed in 2008. The vacant building was demolished in 2014, leaving more than 20 acres of land for potential retail uses.
“We felt the time was right to offer this great opportunity and to find buyers who will grow the site and take it to the next level,” said J.D. Loeks, president, Celebration! Cinema.
The new listing is part of 28 West, a plan created by the City of Wyoming to redevelop the former theater property into a venue that will attract regional buyers.
"The 28 West project is critical to the future success of the City of Wyoming,” said Megan Sall, assistant city manager, City of Wyoming. “We look forward to working with both Celebration! Cinemas and Colliers International West Michigan as we continue to develop what will most certainly be a transformational project for our community."