Michigan's last Kmart store has a new owner after closing

Candice Williams
The Detroit News

The building that housed the last Kmart store in Michigan has a new owner with plans to bring more retail to the site near Battle Creek.

B. Riley Real Estate, an affiliate of Los Angeles-based B. Riley Financial, said Wednesday that it bought the former Kmart at 15861 W Michigan Ave. in Marshall. The purchase price was not disclosed.

Shoppers walk to their vehicle after shopping at the closing Kmart in Marshall, Thursday, October 28, 2021.

“As the last Kmart location closed when the retailer exited the Michigan market, this store was a strong retail performer,” Michael Jerbich, president of B. Riley Real Estate, said in a statement. “The strength of the existing center coupled with the future growth of the Marshall market, including the planned Megasite development initiative, makes this a compelling investment opportunity.”

The 86,479-square-foot building sits in the Marshall Plaza shopping center one mile west of the city's downtown. It also sits less than three miles away from a 1,600-acre site known as the Marshall Megasite, that's being marketed for industrial development.

The developer says it plans to work with the city to redevelop the space to bring in a mix of national retail tenants. No tenants have been named.

The last Kmart store in Michigan closed in late November, ending a nearly 60-year history in the state for the discount department store chain.


Twitter: @CWilliams_DN