Business

After Multiple Delays, Detroit's Anchor Bar Hands Keys to New Owner Tuesday

December 01, 2018, 10:06 PM by  Allan Lengel


Regulars celebrate Saturday with owner, son Vaughn Derderian (third from left).

The owners of the iconic Anchor Bar on Fort Street in Detroit will give the keys to the new owner on Tuesday.  

The legendary business -- run by the Derderian family for about 60 years -- originally planned to close in June, then late September, but some glitches delayed the final changover.

Owners Vaughn Derderian and son Vaughn plan to be there Wednesday to help with the transition by new owner Zaid Elia, whose properties include Parc in Detroit’s Campus Martius, 220 Merrill in Birmingham and the Ford Building on Griswold. 

"I’d be delighted to help them out," the father, Derderian told Deadline Detroit on Sunday morning. " I want to see them succeed."

The bar, a watering hole for cops, reporters, Red Wing fans and blue collar and white collar workers of all types, was first owned by Derderian's father Leo Derderian, a Damon Runyon-like character who passed away in 1994. 

The price for the bar and property, including retail and office space, hasn't been disclosed. It’s likely to be in the low seven figures, based on current commercial real estate values downtown.

On Saturday night, some regulars showed up to the commemorate the changing of the guard.



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