Lino Realty Inc., a commercial real estate firm based in Clinton Township, has announced the successful sale of the Trust Nightclub Venue located in the heart of Detroit’s central business district in the historic Bankers Trust Building at 205 W. Congress Street.
The transaction was managed by Michael Scamardella of Lino Realty Inc. Terms of the deal were not disclosed. The building is located at the southwest corner of W. Congress and Shelby Street, just a few steps from the London Chop House.
The three-level, 10,400-square-foot venue has been acquired by hospitality executives Robert Lulgjuraj and Mario Camaj, whose portfolio of regional restaurants and venues includes Besa in Detroit, and Tallulah Wine Bar & Bistro and Zana in Birmingham.
The transaction, which did not include the building or real estate, was a turn-key sale of assets, furniture, fixtures, and equipment, along with the assignment of the existing lease to the purchasers. Notably, there were no other brokers involved other than Scamardella.
“We are thrilled to have facilitated this transaction and are confident that the new owners will bring a fresh and exciting vision to the Trust Nightclub Venue,” says Scamardella. “This sale marks a promising new chapter for the venue and the Detroit nightlife scene.”
Lino Realty is a Detroit family firm specializing in commercial real estate brokerage, development, tenant and landlord advisory, and CRE business consultancy.
The plan is to reopen the space in the coming months. More details were not available. In the past, the building was home to a McDonald’s franchise, and in recent years a series of nightclubs that included Panacea, Plan B, and the Lower Level.
Completed in 1925, and designed by Wirt C. Rowland of then Smith, Hinchman & Grylls (today SmithGroup in Detroit), the Italian Romanesque Revival structure was built for Bankers Trust Co. A three-story addition to the immediate south was added in 1960.
