One North Main building in downtown Ann Arbor purchased by REDICO

ANN ARBOR – Southfield-based real estate development and investment company REDICO recently acquired the One North Main building downtown.

The Class A office building at the corner of Main Street and East Huron is the largest office building in the downtown area, according to a release. The building boasts 115,000 square feet of space, with a first floor equipped for retail and eight floors of office space.

REDICO will oversee property management and leasing services as both the owner and operator of One North Main. Current renovations include updates to the first floor common areas, office spaces and elevator and are expected to be completed by the summer.

“The acquisition of One North Main confirms our interest in expanding our presence in Ann Arbor,” REDICO President and CEO Dale Watchowski said in a statement. “The newly restored office space gives tenants access to Class A amenities and luxury design all while surrounded by the spirit of a vibrant college town.”

REDICO owns the Hoover + Greene 167-unit multi-family development at 950 Greene St.