Party Store Near Little Caesars Arena Sells for $3.2 Million

Property values have skyrocketed around Little Caesars Arena.

The latest example: Paul’s Place, a party store at the northeast corner of Cass and Henry, has sold for $3.2 million, according to a Detroit News review of property records.

The store was purchased last month by an entity linked to the chief executive of Wireless Giant, a Madison Heights phone retailer, reports Louis Aguilar of the Detroit News.

The store was owned by Salem and Ayser Toma, who purchased the building for $200,000 in 1999. 

Another store, the former Stadium Liquor at the corner of northeast of Cass and West Fisher Service Drive, was bought last fall by the entity linked to Wireless Giant. 

Follow-up: 'We Already Miss You:' Cass Party Store Sale Brings Memories and Mixed Emotions

Both stores' separate owners rejected offers from Olympia Development of Michigan, real estate arm of the Ilitch family.

Read more:  The Detroit News

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