Dan Gilbert's Bedrock has made another significant acquisition downtown. The real estate firm announced today that they've acquired the Millender Center, its parking deck, and retail center.
In whole, the property is over 729,000 square feet and includes 1,738 parking spaces and eight retail and dining tenants. The Millender Center also has a People Mover station. According to the company, the current tenants will remain in the building.
“The acquisition of the Millender Center adds a key downtown Detroit parking asset to the Bedrock portfolio,” said Catherine Clark, chief investment officer at Bedrock. “It additionally provides synergies to our Courtyard Detroit Downtown property and the mixed-use amenities located within the area.”
Bedrock recently finished a renovation of the adjacent 260-room Courtyard Detroit Downtown hotel.
The Millender Center was built in 1985. It sits across from the RenCen; Bedrock is currently working with GM, the city, and the county to determine the next use of the RenCen, as GM will move into the new Hudson's building next year.
