DETROIT – Dan Gilbert has added a new Detroit building to Bedrock’s portfolio.
Bedrock announced it has acquired “The ICON,” a 420,000-square-foot, multi-purpose development located at 200 Walker Street, the former Detroit riverfront home to the UAW-GM training center.
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The building adds to Bedrock’s growing riverfront portfolio, including 300 River Place, a 500,000-square-foot Class A office building.
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“Detroit’s riverfront was one of the first of many things about this city that captured my imagination and inspired my move here,” said Kofi Bonner, CEO of Bedrock. “The adjacency of the area to the Central Business District and the eastern neighborhoods provide a unique opportunity to connect the vibrancy of the downtown core to the vitality of the riverfront communities. The Detroit Riverfront Conservancy and other stakeholders have spent years curating an iconic, memorable, world class public amenity. 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.”
The 200 Walker Street acquisition includes:
- 420,000 SF property:
- West Building: 8-story office tower and 2-story auditorium
- Center Building: 3-story training center & warehousing space
- East Building: 1-story partial mezzanine & full-service cafeteria
- 880 Parking garage spaces
- 375-seat world class auditorium
- Top floor 360-degree outdoor terrace
- Direct access to Detroit’s East Riverfront
In a release, Bedrock says it’s working to develop a vision for the two properties and the areas surrounding it.
“While plans and programming for these parcels are still underway, Bedrock is in the early stages of imagining a vision for the area, including sustainable infrastructure, mixed-income housing, dining, office, public space, and more - all beside the Aretha Franklin Amphitheater and Atwater Beach.”
The price of the building was not disclosed. Bedrock’s portfolio totals more than 18 million square feet of office, retail and residential space in Detroit.
Related: Detroit’s iconic Fisher Building listed for sale after $30 million restoration