The General Motors-UAW's old training center was purchased by Bedrock for an undisclosed amount.
DETROIT - Dan-Gilbert owned Bedrock has added to its Detroit portfolio of real estate with the acquisition of an old GM-UAW training center along the city's riverfront.
Among the more visible structures along the Detroit Riverfront, "The Icon" as it's known was purchased by the land development firm, it announced last night. The purchase adds 18 acres and 880 parking spaces to company's growing portfolio downtown.
The 420,000-square-foot property features three separate structures, including an 8-story office tower and a 2-story auditorium in the west building. Along with the center and east buildings, Bedrock also acquired 880 parking spaces in a garage and increased access to the Detroit East Riverfront.
Earlier this year, Bedrock announced it had purchased 300 River Place, another office building that was constructed along the riverfront.
Along with its recent purchase at 200 Walker Street, the real estate firm is signaling plans to revitalize and re-envision the region that includes mixed-income housing, dining, office space, and improved mobility along the riverfront.
"The Detroit Riverfront Conservancy and other stakeholders have spent years curating an iconic, memorable, world class public amenity," said Kofi Bonner, CEO of Bedrock. "Bedrock can build on this legacy to provide a more robust environment with improved sustainable infrastructure, parks and mixed-use developments, fueled by people occupying mixed income housing, retail, entertainment and office spaces."