Pontiac Silverdome up for sale, again
The Pontiac Silverdome is once again up for sale.
Canadian developer Andreas Apostolopoulos’ Triple Properties bought the aging football stadium in 2009 at auction for $583,000.
The asking price today for the 127-acre property: $30 million.
Robert Mihelich is a commercial real estate broker with CBRE, which is handling the sale.
He says there are several factors affecting the price.
“This property, due to its location, proximity and accessibility to highways, lends itself” to mixed-use development says Mihelich, noting that there are few in the area that are as large of the Silverdome site.
Mihelich says the property has been on the market for about a month. He says there are several interested potential buyers.
Mihelich expects to “ink a deal” in the next four months.
The Silverdome did see some activity since it was purchased by developer Apostolopoulos. But in the end, the property was allowed to decline, its inflatable roof torn to shreds by a storm and its contents eventually sold at auction.