Standing in the shadow of architectural royalty can't be easy for 511 Woodward. The dark, glass, boxy building has sat vacant on the other side of the Guardian Building for decades. Its recent renovation is nearly redone - with a big facelift - and it's looking for new tenants.
The building was purchased in 2019 by the Elia Group, who quickly started the renovation. The striking facade was designed by Yamasaki Inc., and features an exoskeleton screenwall (see the before/after below). The outdoor landscaping is the last portion of the building to be completed - once the snow is gone.
Kees Janeway of Iconic Real Estate tells us that the new Capital One Cafe, which will be in the northeast corner of the ground and second floors, will have a glass elevator, a very open, airy feel, and a landscaped patio. Where there was once an uneven staircase in front of the building has now been removed and the patios will be at sidewalk level.
The Capital One CafeCourtesy of Iconic Real Estate
The building has four floors with about 7,000 square feet each, says Janeway. Rent won't come cheap in this prominent location, but he can't reveal the lease price. Leasing activity is starting to increase now that it looks like we could somewhat be turning a corner with COVID. He says it could be a great location for a company whose lease is set to expire or a company who's thinking about moving into downtown. "It's a great address in a state-of-the-art building," he says. Plus, there's exclusivity - they'll only share the building with a few other tenants.
511 Woodward sits in a prime location in downtown Detroit - between Campus Martius and Hart Plaza, surrounded by office buildings and accessible via many forms of transit. Considering it's been vacant and mysterious for so long, it's an exciting time for the building to be opening. And yes, the AC unit for the Guardian Building still sits on top of it.
Janeway says the Capital One Cafe - the first of its kind in Michigan - should open this spring, and they're actively looking for its neighbors. It's leasing through Iconic Real Estate.
