Owners sell downtown Ann Arbor building that houses The White Market, former College Shoe Repair
The owners of the building on East William Street that houses The White Market and the former College Shoe Repair sold it last week.
Photo from Colliers
The 6,500-square-foot building was on the market for more than a year with a list price of $2.25 million. Costas Boutsikakis purchased the building last week for an undisclosed price.
Dave Jones, who has owned The White Market since 1984, said he is not sure whether he'll renew his lease at the end of the 2011.
AnnArbor.com file photo
The building, which is located in the high-traffic corridor near South State and the University of Michigan campus, has two street-level retail spaces that are now listed for lease by Jim Chaconas and Brendan Cavender of Colliers International. The spaces have an annual asking rate of $40 per square foot.
Cavender said that with the coming addition of the Zaragon West student high-rise, they have seen peaked interest in both the spaces from local and national tenants.
“With the addition of Zaragon West and the lack of available retail on State Street and Liberty, we are seeing William Street as the new area that retailers want to be,” he said.
For years, the building was owned through a partnership between the owners of the College Shoe Repair and the former owners of The White Market.
The decades-old College Shoe Repair went out of business in December 2010, and the lease for The White Market expires at the end of 2011.
Dave Jones, owner of The White Market, said he is not sure whether he will renew his lease for the space, but he’s in discussions with the new owner of the building.
“At this point in time, I don’t know if we’re staying,” he said. “Our intent would be to keep a grocery store here, but the market has changed quite a bit this year and the challenges are big.”
Jones said the recent additions of CVS Pharmacy and 7-Eleven on South State Street, and the Tower Mini Market on Maynard Street, all significantly affected the business at his market in the past year.
“Business has been down considerably since the CVS opened up,” he said. “People are going there first and we’re working hard to get them to come around the corner.”
Although he said he would like to continue operating The White Market, he said for now, “the immediate future is uncertain.”
Boutsikakis could not be reached for comment regarding his plans for the building.
Lizzy Alfs is a business reporter for AnnArbor.com. Reach her at 734-623-2584 or email her at lizzyalfs@annarbor.com. Follow her on Twitter at http://twitter.com/lizzyalfs.
Comments
15crown00
Sat, Sep 24, 2011 : 12:42 p.m.
building owners want to go in ,make money quickly,get out. chain drug stores etc. can make money downtown because company wide they have more units to spread the costs over unlike the one unit grocery stores,drug stores etc.. thus down towns the way they use to be are being destroyed all over the country. what do u suppose downtown Ann Arbor will look like in 50 years because i remember how it looked around 50 yrs. ago and there is no comparison to today.
Raskolnikov
Sat, Feb 11, 2012 : 4:38 p.m.
And I'm sure that on the day you arrived 50 years ago, there was some old farmer complaining about how different it had become since he was young. CVS competes well partly because it can spread its costs across many outlets, but also because it knows how to stock items that people want to buy. If White Market filled its shelves with stuff no one wanted to buy, and then didn't offer things people really wanted, then what's the value of that? Zingermann's is the poster child for a business that is locally owned, well stocked, attractively marketed... and they're doing well. Instead of lamenting the loss of a dud like the White Market, why not open your own version of Zingermann's and get rich while adding to the local uniqueness?
Christy Summerfield
Thu, Sep 22, 2011 : 5:56 p.m.
This is a sad note--the passing of two more retail locations that contributed to the uniqueness of Ann Arbor. I really can't understand anyone choosing to purchase "groceries" at CVS, which basically carries mainly junk food, rather than patronizing The White Market where there is actual, real food for sale. CVS doesn't carry produce for example. I worked on campus for many years and I was so grateful White Market was there if I needed to pick up something before going home.
Tru2Blu76
Wed, Sep 21, 2011 : 6:02 p.m.
1. If I see another CVS store go up in this town, I'll puke! 2. I'm beyond "sad" to see another established small business vanish from Ann Arbor's downtown / campus areas. STOP! This is not going to increase downtown commerce except for the top-end restaurants and retail shops. I'm outraged at this "trend" and I know what's causing it. The Conservative Movement (i.e. every kind of Republican version) has been touting their version of the Free Market for decades now and few stop to analyze it, not to mention debunk it. Gov. Snyder & his cohort in the legislature keep saying they're working to lighten the burdens of small businesses and bring in new businesses. It's all just a pile of delusional bull dung! When we see for ourselves business after business folding up or being forced out of their current locations: that's the proof that the Republican "idea" is bull dung. They have never helped businesses like White Market, Lucky Pharmacy, our bike shops, Harry's Army Surplus, the hardware stores the shoe stores or ANY downtown small businesses. The Nerd Entrepreneur is a false prophet who only cares about mega-store chains and other 'mega-enterprises. Far worse: We see in reality that Snyder and his ilk don't give a hoot about incompetent or even criminal "management" - such as the Georgetown Mall debacle. It's time to recall Snyder and several of his chief Republican allies in Lansing. It's time to send the message: STOP! (and cut out the "Free Enterprise" bull dung!
Raskolnikov
Sat, Feb 11, 2012 : 4:32 p.m.
If people want what CVS offers more than what the White Market offers, why shouldn't there be more CVSs? This isn't about politics. I'm a dyed in the wool Democrat, and I think that if no one shops at the White Market, there's nothing in the OWS bible that says it should stay open just because it's not a national chain.
bunnyabbot
Wed, Sep 21, 2011 : 3:38 a.m.
geez, the look on Dave Jones's face says it all, I feel bad for him :( the change to the downtown reminds me of of my many childhood summer camping vacations, we always ended up visiting Jackson Hole, back then it was still a cowboy town, getting a new pair of cowgirl boots from a locally owned store, or hitting the locally owned outdoorsy store to get some tent spikes and visiting the quirky local stores. Last time I went there I almost cried. Chicos, The Gap, REI, Ralph Lauren have taken over. It was horrible :(
jns131
Wed, Sep 21, 2011 : 3:06 p.m.
Jackson Hole still has its flair but yes, it is commercial but still has some of its charm. I loved Jackson Hole. I also loved the shops too. I guess I am a little bit modern when it comes to knowing that when you visit a popular place? You will get some of its tourist attractions that go with it. Sounds like you were out camping by the Grand Tetons.
MyOpinion
Wed, Sep 21, 2011 : 1:27 a.m.
It will be interesting to see how the market the owner of Sava does. It will be at Wash/Division. There is a market for a grocery in the student neighborhood. White's Market is very retro. They haven't changed in 20 years. The main positive is that they deliver groceries to some homebound folks.
MyOpinion
Wed, Sep 21, 2011 : 1:22 a.m.
It will be interesting to see how the marke
townie54
Wed, Sep 21, 2011 : 12:43 a.m.
I agree zax.You cant expect people to buy there just because your local.You have to adapt and give people something to come in for.And you have to dust .
zax
Tue, Sep 20, 2011 : 9:08 p.m.
White Market had low selection and big prices. Students without cars to go to grocery stores farther away were stuck paying the price. Of course no one who owned a car shopped there. Local flavor my behind!! We don't need flavors of rip off the students and never dust off your shelves. When was the last time any tax paying citizen ever shopped at White Market. Who are all the whiners? The people who wanted to keep Borders, yet bought their books on Amazon? Get a grip on reality citizens. Shop it or drop it.
CincoDeMayo
Tue, Sep 20, 2011 : 8:49 p.m.
Well, competition isn't bad, but I've never been able to ignore how much more creative, innovative, and risk-taking businesses in Ypsi are compared to what I see in Ann Arbor. I have always suspected it is because the rent is cheap enough for more people to take chances. Some fun places to go right now in Ypsi downtown on Michigan Ave. are, among others, The Rocket and Mix. Even the downtown branch of the public library avoids the trappings of modern, chain-like buildings - it is worth a visit to enjoy the building itself. I do think that White Market could take advantage of its location to a far greater extent if it wanted to. If I'm in a new place and I need something it is easy to go to the familiar, which also usually looks nice and new. So in a chaotic, unfamiliar environment I am just more likely to go into a chain that I know, rather than a darker, more worn, unfamiliar business. However, that doesn't hold true if the unfamiliar business presents itself in a bright, cool, inviting, fashion. Truthfully, I am downtown a lot and didn't even realize that White Market was still there! I just didn't notice. That's how much it just fades into the landscape. There are ways to make its presence more prominent, bright and inviting. However, I wonder if the rent will allow for its survival.
johnnya2
Tue, Sep 20, 2011 : 7:55 p.m.
I always am amazed how people lament the closing of a downtown store and then complain about the parking situation or any other situation that makes them not go there. I don't shop at White's Market because I can get better produce at the farmers market. I can get better deals on canned goods at Target. Yes, they made more money when they had a captive market (students with no cars and no competition), but that just means they never developed a loyal following. They figured they never needed to. Now that other people see that same market can be had their is competition. Why is competition bad?
timjbd
Tue, Sep 20, 2011 : 8:56 p.m.
Maybe another branch of the Co-op would work there? That place seems to be thriving. I don't think there is any stopping the march toward corporate samehood in Ann Arbor. They don't take no for an answer. It's not like Ann Arborites NEEDED a Costco but here it comes. How long before there's a Walmart on the diag?
Jake C
Tue, Sep 20, 2011 : 8:03 p.m.
"Why is competition bad?" Nostalgia, apparently.
Ariel
Tue, Sep 20, 2011 : 7:54 p.m.
local stores can't compete with large chain store prices. if we keep letting in chains like cvs and 711 downtown, then we might as well just plow down everything and put in a strip mall.
Raskolnikov
Sat, Feb 11, 2012 : 4:25 p.m.
We don't "let" chains in -- we pay them to come in by voting with our wallets. The chain stores come because more people are willing to shop there than at stores like White Market. I lived in Ann Arbor for 10 years and I think I went in there one time looking for deodorant -- which they didn't have. Something tells me CVS will sell deodorant.
jns131
Wed, Sep 21, 2011 : 3:01 p.m.
Actually Kresage tried to make a go of it and lost back in the 70's when K Mart sold out this chain. No big box can survive in downtown Ann Arbor. It is all mom and pop shops now. I remember the White Market. Wonder what will fit in there now I wonder.
timjbd
Tue, Sep 20, 2011 : 8:51 p.m.
And conversely, every crappy strip mall all across the country will feel exactly like home. Or at least like every other crappy strip mall across the country.
treetowncartel
Tue, Sep 20, 2011 : 7:15 p.m.
Perhaps ,there will be an opportunity to purchase these products on the black market.
Randy Parrish
Tue, Sep 20, 2011 : 7:08 p.m.
Huge potential for small markets like this, I think it is mostly a case of White Market not seeing what they have or how they can take advantage of it.
Jake C
Tue, Sep 20, 2011 : 7:01 p.m.
#1: The owners just sold the *building*, they're not necessarily planning on going out of business. #2: No one *forced* the owner to sell the property, I imagine they just saw the writing on the wal and decided this was a good opportunity to cash out. #3: When was the last time the people complaining about the loss of "unique local businesses" actually shopped at White Market? When I was a student living on campus, I liked having Sergeant Peppers within a 2-minute walk for beer and snacks. But when I was willing to take a 15-minute bus ride to Meijer or Kroger, I saved a whole bunch of money each trip. The quality certain isn't any better for downtown stores, just ask Detroit how they're doing...
Tru2Blu76
Wed, Sep 21, 2011 : 6:15 p.m.
WHEN have you gotten to Meijer or Kroger on a bus - in less than 20 minutes? Time it out - not even counting the waiting time for the next buses going your way. Buses are "good" but they are horrible time wasters compared even to bicycles. It happens: I'm one of those who shop at as many downtown businesses as are available. Used to shop at Harry's Army Surplus all the time, used to love the pharmacies for their close proximity. For that matter, I preferred Community News Center (2 or 3 stores in town) to the K-Mart / Borders. Used to love the 2 movie theaters that disappeared. When such retail shops close - that reinforces the flight to truly remote mega-versions with gigantic parking lots taking up acres of land.
bluenella
Tue, Sep 20, 2011 : 6:45 p.m.
I agree w/'sayitplain' are strip mall style chain stores the only tenants who can afford downtown rents these days? what incentives are there for local businesses to thrive -- or even stay afloat -- within our communities? a generic & bland future all in pursuit of the almighty dollar...why should people even visit, when the same shops can be found everywhere? a vibrant city needs local flavor, not more generic corporate chains.
Wolf's Bane
Tue, Sep 20, 2011 : 6:02 p.m.
The price of gentrification.
say it plain
Tue, Sep 20, 2011 : 5:02 p.m.
Oh well, another nail in the Ann-Arbor-as-unique coffin. The other day we got labeled by US News & World Report as a 'quintessential' college town... Indeed, that used to mean that while we are a great great town for college students, we also have a rich life that seems to feed off that energy and be of a special pioneering sort (and yes haha home to great public schools and so on )... Now it seems to mean more like we are a great college town, in that generic sense of college town, with bars and restaurants and spiritwear shops and crazy amazing football woohoo...a really extra jam-packed specimen of that phenomenon, but with the same ol' strips of CVSs and Seven-Elevens as all the other 'great college towns' are getting... The phenomenon gets accelerated with the market forces today... 'Investors' speculate on land and buildings and to generate their profits they need the next guy's profits to land in their pockets, and so on and so forth...and as commercial credit has gotten tighter, fewer possible leasees that don't have very deep pockets to take from... The relevant food chain--which also depends on the bubble of college costs in our particular 'changed-town' scenario--stinks, and our experience of community life is less pleasant as a result. imho, of course...
Marilyn Wilkie
Tue, Sep 20, 2011 : 3:58 p.m.
I'm sorry to hear this. Another piece of the Ann Arbor I grew up in may go, making it even more unrecognizable to the townies.
Wolf's Bane
Tue, Sep 20, 2011 : 6:03 p.m.
Oh, we are a lot though than this. Townies will prevail on Main street.