MOUNT CLEMENS, Mich. (AP) — The 600,000-square-foot Gibraltar Trade Center in Macomb County’s Mount Clemens is closing later this summer after 37 years in business.
The public market, which has vendors selling a range of items including toys, guns, rugs and clothing, made the announcement on its website.
Aug. 27 is the scheduled closure date. The property, northeast of Detroit, has been sold, owner Bob Koester told The Macomb Daily of Mount Clemens late Sunday.
“We are not in any financial trouble. We decided to sell the property,” Koester said. “Online sales aren’t going away and they simply are crunching our vendors and their ability to sell products. And as our older vendors move on, no one is replacing them. The revenue has dwindled.”
Koester did not release the name of the company that bought the trade center in Mount Clemens.
“They have requested to just stay quiet for now,” he told The Macomb Daily. “There are bound to be some hurt feelings among the current employees. They haven’t shared exactly what they plan to do, but I think it’s safe to assume it’s going to an industrial park.”
Located on 55 acres, the center opened on the former site of a race track.
Motorcycle shows, concerts, carnivals have been held in the parking lot of the trade center. The company said the popular Gibraltar Gun and Knife Shows will continue to operate.
A Gibraltar Trade Center southwest of Detroit in Taylor closed in 2014.