Dan Gilbert's Bedrock has added another major East Riverfront property to its portfolio. The group has purchased the 420,0000 square foot former UAW-GM Training Center, which sits near the Stroh's office building--300 River Place--it purchased earlier this year. In that purchase, they also acquired a large parking garage and additional land. More recently, Bedrock purchased a surface parking lot near Valade Park.

Bedrock is not disclosing how much they paid for this property. The acquisition includes: 

  • 420,000 square feet of 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
  • 18 acres of property
  • 880 parking garage spaces
  • Top floor 360-degree outdoor terrace

“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.”

In a press release, Bedrock says they don't have firm plans for the East Riverfront properties yet, but envision office, mixed-income housing, retail, restaurants, and public space. They highlight its proximity to Canada in attracting business to the site.

After focusing on downtown property for years, Bedrock has broadened its reach along the riverfront. The group purchased and renovated the Assembly Building near the West Riverfront, and in 2020 they acquired industrial space in Southwest Detroit.

Bedrock is leading major development projects downtown right now, including the construction of the Hudson's site, the restoration of Book Tower, and the construction of City Modern in Brush Park. They'll also be building at the former jail site along Gratiot Avenue. Bedrock recently acquired Cadillac Tower in downtown Detroit.