The Palace of Auburn Hills has been the scene of championship celebrations and many other great moments and individual performances for nearly three decades.
However, Monday night's game marked the end of an era. The Pistons run at the Palace of Auburn Hills ended with a 105-101 loss to the Washington Wizards.
"We'll be forever grateful and proud that we were their home," said Auburn Hills Mayor Kevin McDaniel.
Palace Sports and Entertainment officials have not said what fate awaits the building, which opened in 1988 at a cost of $70 million. McDaniel told 7 Action News that Auburn Hills is ready to work with Palace executives in whatever decision is made for the arena and 110-acre property.
"We have every expectation, with the city and our team, that we'll produce a great outcome that's favorable to everyone," said McDaniel.
Many expect the building to be razed due to the value of the land, which is described as "white hot" by a commercial real estate advisor and broker.
Sam Munaco, a commercial real estate advisor who sees a different future for the 110-acre site. He describes the Auburn Hills market as "white hot."
"It's very difficult to find space for a large user and that land has great exposure on I-75," said Sam Munaco, president of Advocate Commercial Real Estate Advisors of Southfield.
"I don't know what's going to happen but if I had to guess, it's probably going to get knocked down," said Munaco. "I could see a large industrial high tech park going there. Prices are just through the roof and timing couldn't be better."
The last event on the books is a Sept. 8 concert with Tim McGraw and Faith Hill.
McDaniel said he expects that city officials will meet again soon with Palace officials but no date is currently set.
