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Dan Gilbert acquires another downtown building in the Financial District

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More retail and restaurants for the west side of downtown?

The Detroit Free Press reports that Dan Gilbert and Bedrock acquired the former Comerica Bank building at 201 West Fort Street for $5 million last fall. The Albert Kahn-designed building, originally the Detroit Trust Company Building, went up for sale last winter.

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According to the report, the Comerica branch plans to relocate and open in the Penobscot Building next week. Jim Ketai, Bedrock CEO, tells the Free Press that they’re talking to interested tenants (retail and restaurants) and hoping to activate the whole building on Fort Street.

There’s a lot happening on the west side of downtown, and we expect it to change drastically in the next few years. Bedrock is also renovating the nearby former Detroit Free Press Building. A few blocks away, the Foundation Hotel opened last year, and Adient is currently renovating the Marquette Building for their headquarters next door. The Crowne Plaza is expected to add another tower to their hotel. High-end condos could still be coming at the Ashton nearby. And of course, the Joe Louis Arena will start demoliton soon, to be replaced with a high-rise hotel.