The historic Kresge Building on Woodward at State St. will soon debut as the Shops at Kresge, an urban mini-mall of specialty retailers. The 40,000-square-foot building will be home to 100 retail spaces, a restaurant, Woodward South, and a bar, 5 and 10 Bar, when all is said and done.
The first floor is targeted for specialty retailers -- imagine collectible memorabilia or a chocolatier -- and the second floor will cluster clothing boutiques. Eric Novack, leasing director for the Shops at Kresge, says the marketing strategy of the property owner, Dennis Kefallinos, includes reaching out to suburban boutiques that might be interested in entering the Downtown Detroit market. "We want to reduce everyone's overhead, reduce their square footage, inventory, shrinkage," he says. "We want to make this financially bearable and convenient for retailers."
Novack has four retailers already committed. He plans to open with 15 on the first floor to start. The retail spaces are sized from 120 to 400 square feet, although larger ones are possible, says Novack. Once the first and second floors are full, the Shops at Kresge will expand into the basement.
Woodward South and 5 and 10 were open temporarily for the Final Four. Once permanent licenses are in place, they will reopen for good.
Shops at Kresge is located at 1201 Woodward. It is owned by the Boydell Group, that also owns
Russell Industrial Center and numerous loft buildings around town.
The public is invited to preview Shops at Kresge on April 30 from 4 to 9 p.m. No R.S.V.P. is required.
Source: Eric Novack, Shops at Kresge
Writer: Kelli B. Kavanaugh
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