A.F. Jonna Development in Bloomfield Hills has acquired Palladium 12, a movie and commercial complex at North Old Woodward and Hamilton in downtown Birmingham. Effective Thursday, the 12 movie screens will be operated by Cloud Nine Theater Partners in Bloomfield Hills, which operates the Maple Theater at Maple and Telegraph in Bloomfield Township.
“We have submitted our plans to the city of Birmingham and are going through the entitlement process,” says Arkan Jonna, principal of A.F. Jonna Development Co., which owns and operates numerous commercial and retail properties in metro Detroit. “Until the planning commission and city commission review those plans, I can’t say anything more.”
The commercial space, which totals 51,700 square feet, could be renovated into stores, restaurants, or offices.
Palladium 12 was owned by Stephen M. Ross, founder and chairman of Related Retail in New York, and co-developed with the late Jim Weiner, president of Related Retail Corp. in Birmingham. The project opened in 2001 to much fanfare, including a Tower Records store, Buca di Beppo, Pampas Brazilian Grille, and Quattro Cucina Italiana. The site was formerly occupied by a Crowley’s department store.
Over time, the original tenants were replaced with Arhaus Furniture (since moved to Somerset Collection South), along with several bars and restaurants, including City Cellar, Blue Martini, Barrio Tacos and Tequila, Hamilton Room, and Chen Chow Brasserie. All of the tenants have since closed.
Olympia Entertainment, an affiliate of Ilitch Holdings Inc., had operated the movie screens at the Palladium. The company operates the Birmingham 8, at South Old Woodward near Merrill Street, and the RenCen 4 in downtown Detroit.
Jonna declined to reveal the sales price for Palladium 12. The overall complex offers 126,200 square feet of space and had an assessed value of $10.2 million with annual taxes of $426,600.
