Dan Gilbert has added another prominent Detroit building to his real estate portfolio. Representatives from Bedrock announced that they’ve acquired the handsome Buhl Building, but the price is not yet known.
Built in 1925 and designed by Wirt C. Rowland, the 27-story building sits on Griswold Street across from the Guardian Building and currently has 57 tenants. Bedrock has also acquired the neighboring parking garage, which has 652 parking spaces.
“As Bedrock always does for our iconic building acquisitions, our strategy for the Buhl Building balances the importance of respecting its history and architecture with ensuring a smooth transition for all of the existing tenants. We also look forward to improving common areas, technology and implementing modern building infrastructure in the building and garage,” said Jim Ketai, Bedrock CEO. "When the Buhl was built in the 1920s, it represented one of the most prestigious office buildings in Detroit, and we are proud to add the iconic building and garage to our portfolio.”
Kirk Pinho from Crain’s is also reporting that Bedrock has acquired the Harvard Square Center on Broadway from Dennis Kefallinos. The building sits across from the Z-Lot and Punch Bowl Social and has been vacant for years.
Dan Gilbert has more than 100 properties in the downtown area, plus major residential construction underway and more new construction in the works. Last week, we mapped out ten of his largest developments.