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Posted on Fri, Feb 18, 2011 : 5:52 a.m.

Ypsilanti's Materials Unlimited owner shifts gear in year-long effort to sell downtown business

By Janet Miller

The strategy to sell downtown Ypsilanti landmark Materials Unlimited has shifted, with the listing of both the building and the business now in the hands of the same Realtor.

Materials Unlimited owner Reynold Lowe had listed the historic Art Deco building for sale last April with the Charles Reinhart Co., but listed the company itself with a different business broker.

After nearly a year on the market with no offers, he's shifting gears a bit.

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Reynold Lowe started Materials Unlimited nearly 40 years ago on North Main Street in Ann Arbor and moved it to its current location in downtown Ypsilanti in 1980.

Janet Miller | For AnnArbor.com

But it was time to put both in the hands of the same agent, Lowe said.

“It made more sense," he said.

The 1920s-era building at 2 W. Michigan Ave. was originally listed for $845,000 and the entire package, including the building, all inventory, Web site and data bases, was listed at $2 million, said Realtor Jackie Wright, listing agent.

While the 16,800-square-foot building continues to be listed at $845,000, the building-business package is now listed at $1.7 million (the business is listed at $855,000), but no longer includes consignment inventory, Wright said. Inventory continues to be replaced as it is sold, Wright said, and the majority of inventory is not consignment.

The business listing was transferred to Reinhart’s commercial department at the end of the year.

Lowe is willing to sell the building, originally an auto dealership and later a USO hall during World War II, separately.

Lowe founded Materials Unlimited nearly 40 years ago and moved to Ypsilanti when he purchased the building in 1980. The building includes three stories, open spaces, high ceilings and a wall of glass windows.

If the building was sold separately, Lowe said he would move the inventory to a new location and operate by appointment and on the Web. The inventory includes antiques from different periods, from Victorian to Art and Crafts, and includes architectural antiques such as mantels, doors and staircases along with lighting.

Marketing strategies have included mailings to members of the Ann Arbor/Ypsilanti Regional Chamber of Commerce, members of the Downtown Development Authority and others, Wright said.

Sales have strengthened in 2010, improving 13 percent between last fiscal year and the fiscal year that closed in August and showing a 20 percent increase for the first two quarters of the current fiscal year, Lowe said.

“It’s because of our marketing, our Web site and people no longer have the doom and gloom syndrome.”

There has been some interest - Wright has shown the building a few times - but no offers, she said.

“We’ve had people look, but obviously not the right one.”

The recent announcement by O’Neal Construction, developers of Ann Arbor’s Kerrytown Market & Shops, that they planned to transform the building at 729-735 W. Cross, less than 1.5 miles from Materials Unlimited, could help generate interest, Wright said.

“Anything that’s positive for Ypsilanti is positive for Materials Unlimited.”

An appearance on HGTV this spring should also give Materials Unlimited a boost. The home and garden show "Cash and Cari" with host Cari Cucksey was filmed at the store recently and is expected to air in about six weeks, Lowe said.

“It will be national exposure and should be good moving the business forward and piquing some interest.”