A 110,000 square foot building that once housed the Sam’s Club in Waterford is being transformed into a boat sales, service and storage center.
Comstock-based Tommy’s Michigan is moving into space at 495 Summit Dr. after acquiring Waterford-based boat dealership Skier’s Pier Inc. last month and forming Tommy’s Detroit LLC.
Tommy’s is leasing the building to owner Ohtman Kadry, an obstetrician and gynecologist-turned-real estate investor who recently bought the property for around $ 1.6 million, said Alan Stern of Friedman Real Estate, who brokered the deal.
Terms of the rental agreement were not disclosed. Tommy’s representatives were not available to discuss details of the new location.
“There’s a lot of activity on these big box spaces,” Stern said. “If you have good real estate, it will be reused.”
Stern said he recently helped sell old Kmart sites in Waterford and Houghton Lake to U-Haul.
Founded in 1981, Tommy’s offers the best boating brands such as Malibu, Axis Wake Research and Hyperlite, and offers rentals, parts, service and financing. In addition to Comstock, it is present in Walloon Lake, Colorado and Florida.
The agreement to acquire Skier’s Pier, located at 2505 Dixie Highway, was completed in February. Employees at the boat dealership were retained during the transition, according to a press release from Tommy.