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Grosse Ile Businessman: Sale of Former A&W Rejected Despite Best Efforts

Grosse Ile businessman Mark Hayes placed an offer on the former A&W property in Downtown Trenton, which was rejected by the property owner.

Grosse Ile businessman Mark Hayes, 41, recently made an offer on the former A&W property in Downtown Trenton, but the offer was rejected.

While he would not disclose the offer amount, Hayes said he offered the property owner more than $55,000, which is the price for which the owners paid for the property in 2009.

"I made them a very lucrative, cash offer," Hayes said. "I was willing to close in two weeks and they rejected it."

Hayes said the offer was rejected despite Trenton city officials' best efforts.

"The City of Trenton was more than willing to work with me," Hayes said. "They want to see someone in that spot."

Hayes, a regional manger for a cigar company and part-owner of Dotte Pub in Wyandotte, planned to turn the former restaurant into a Bearclaw Coffee Co. and Calder's Ice Cream location—both Michigan businesses.

Hayes said he was unwilling to pay the asking price of $95,000, or an $80,000 counter offer made by the property owners during negotiations, because the parking lot requires a significant amount of work.

The parking lot has improper drainage and would need to be completely redone, which could cost as much as $36,000, according to Hayes.

He added there was also standing water in the basement when he walked through the property about three weeks ago. The Realtor, Signature Associates, informed Hayes the water issue had been resolved at the time of sale.

Hayes said the deal is dead, for now.

"I'm not going to go any higher on the price because of the work I'd have to put into it," Hayes said.

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Rick February 26, 2013 at 08:41 PM
Ron, you should volunteer to write a column.
Ron February 26, 2013 at 10:09 PM
I wouldn't mind doing that Rick. At least I would get out from behind the desk and look into other news worthy stories. It just gets old reading the same thing over and over. One would think the professionals could be a little more creative in their writing skills and content of their articles.
Mardi March 01, 2013 at 04:23 AM
Do the math 55k for the property 36k to bring it to code that is 91k plus real estate taxes for 3 years and real estate sales commision. Let the owners sell it for way less than they have in it wow good move. Let one of these people commenting sell one of their investments for a substancial loss. The owners do not have deep pockets because they won the lottery or are the Obama entitilement list. Contrary to popular opinion here it takes smarts, hard work and savings to even buy something like this. If you all have an answer why did not one of you buy the property when it was listed and do what you say should be done. Now that is smart. Mardi
michelle March 01, 2013 at 04:56 PM
If you read correctly, he is offering the owner "more than" the $55k he paid for it in 2009. We know it is somewhere in between $55k and $80k. Who said the owners were selling it for way less? The owners were NOT talking about putting $36,000 more in for repairs; the buyer was talking about having to do that himself. Mr. Hayes was going to pay the $36k for repairs IF he was granted the lower price. He isn't going to pay the higher asking price AND have to pay for all of the repairs. If the owners want the higher price than they need to do the work. They bought it for $55k want to sell it for a lot more. Sure they have to pay a realtor or taxes but who said they should buy the place and let it sit there and not earn any money from it? They bought a business and didn't do anything with it. That is their fault they didn't make any money. They were the ones with poor planning. Why should someone have to pay thousands more than them when property values have not gone up THAT much lately and have to pay for repairs (perhaps even more repairs than when the owners had bought it because they have not kept up on it)? Plus it was a cash offer and willing to close quickly which would help get it off the books for the owners so they can move on. Maybe they are hoping for a better offer but if it has been sitting there doing nothing for how long now, I don't know what they are waiting for. I sold my house at a loss. That is what happens when real estate is down.
michelle March 01, 2013 at 04:56 PM
If you read correctly, he is offering the owner "more than" the $55k he paid for it in 2009. We know it is somewhere in between $55k and $80k. Who said the owners were selling it for way less? The owners were NOT talking about putting $36,000 more in for repairs; the buyer was talking about having to do that himself. Mr. Hayes was going to pay the $36k for repairs IF he was granted the lower price. He isn't going to pay the higher asking price AND have to pay for all of the repairs. If the owners want the higher price than they need to do the work. They bought it for $55k want to sell it for a lot more. Sure they have to pay a realtor or taxes but who said they should buy the place and let it sit there and not earn any money from it? They bought a business and didn't do anything with it. That is their fault they didn't make any money. They were the ones with poor planning. Why should someone have to pay thousands more than them when property values have not gone up THAT much lately and have to pay for repairs (perhaps even more repairs than when the owners had bought it because they have not kept up on it)? Plus it was a cash offer and willing to close quickly which would help get it off the books for the owners so they can move on. Maybe they are hoping for a better offer but if it has been sitting there doing nothing for how long now, I don't know what they are waiting for. I sold my house at a loss. That is what happens when real estate is down.

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