Menard Inc. has closed on the purchase of the 80-acre, former Gibraltar Trade Center site in Taylor and plans to construct its next metro Detroit store there.
Crain’s first reported the deal in April 2014. The purchase price was not disclosed.
Farmington Hills–based Friedman Integrated Real Estate Solutions represented the seller and purchaser in the transaction.
The home improvement and home goods chain plans to demolish the trade center buildings to make way for a 300,000-square-foot Menards store on the site.
The Gibraltar Trade Center, which operated in Taylor for more than 30 years, consolidated its operations into its Mount Clemens site last November.
The Taylor Planning Commission approved Menard’s site plan for the project, which is expected to create 125 jobs, in March.
Demolition of the trade center is to take place this summer, and construction is set to begin next summer. Plans call for the Taylor store to open by spring 2017.
Eau Claire, Wis.-based Menard has moved into the metro Detroit market over the past 2 1/2 years, opening Menards hardware and housewares stores in Chesterfield Township and Livonia. It plans to open stores in Warren, Wixom and Ann Arbor in the fall.
Typically, the chain establishes a footprint for its stores and sells adjacent out-lots to gas stations, restaurants and other retailers to bring more customers to the site.
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