10.25.2011
By Robert Carr
DETROIT-Ilitch Holdings Inc. has hired Eric Larson, CEO of Bloomfield Hills, MI-based Larson Realty Group, as head of its property group. Mike Ilitch, the founder of the Little Caesars pizza franchise, holds one of the largest portfolios of downtown property through subsidiary Olympia Development.
Eric Larson | Olympia Development
Ilitch’s son Atanas stepped down as president of Olympia Development in mid-June to “focus on private outside business ventures.” Olympia is known for the redevelopment of the Fox Theatre, the Hockeytown Café and the development of Comerica Park, the Detroit Tigers baseball stadium.
Olympia also has the lease on the Joe Louis Arena, the Detroit Red Wings hockey arena downtown. There was talk this past year of Ilitch possibly building a new stadium downtown if the purchase of the Detroit Pistons basketball team went through, but the team was instead bought by Los Angeles-based billionaire Tom Gores. Olympia continues a short-term lease of the 32-year-old Joe Louis Arena, and Ilitch has been mum on future plans.
Larson will head the Olympia Development team, but he hires on only as an executive real estate consultant, and will maintain his private real estate firm. With more than 25 years experience, he previously worked for Hines and Bruce S. Brickman & Associates Inc. before joining his father, the late Robert Larson, a former CEO of Taubman Centers Inc...
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