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Nike Bringing New Retail Store To Downtown Detroit

Nike Bringing New Retail Store To Downtown Detroit
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  • Quicken Loans founder Dan Gilbert confirmed on a tweet on Wednesday that Nike Inc (NYSE: NKE) is coming to Detroit.
  • Nike will be renting a two-level 22,000 square feet shop from Gilbert's Bedrock Real Estate.
  • Located in the former Woolworth's, at 1261 Woodward, the new store may be a Nike "Detroit Community Store."

On Tuesday morning, Dan Gilbert said in a tweet that Nike will be arriving in Detroit next Spring.

According to the real estate mogul, the company will occupy a two-level 22,000-square-foot storefront.

Bedrock Real Estate Services has not yet provided any details. However, an online listing said this is going to be a Nike "Community Store," which according to Nike differs from regular stores in that most employees are local, and "further demonstrate their commitment to the neighborhood by volunteering their time to local non-profit organizations and to Nike’s broader sport-related efforts, and will be empowered to award grants from the store to local organizations."

"All Community Stores have local hiring initiatives that aim to hire at least 80 percent of store employees – known as store athletes – through local channels and from within a five-mile radius of the store," Nike's website explained.

Lisa Beachy, Communications Manager at Nike, issued a statement assuring that the company looks forward "to bringing Nike’s performance products and experiences to downtown Detroit with our sixth Community Store, scheduled to open in 2016 (…) Through job creation and volunteer efforts, we hope to both positively impact the Detroit community and the local economy."

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

Posted-In: Bedrock Real Estate Dan Gilbert Detroit Nike StoreNews General Real Estate Best of Benzinga


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