Dan Gilbert’s Rock Ventures has purchased its 10th building in the heart of downtown Detroit.
The company has completed the purchase of the 26-story One Woodward building, located on the corner of Jefferson and Woodward Avenue. The company says it plans to renovate the building in order to accomodate the growing demand for space in the city’s emerging technology district.
One Woodward was built in 1962, and was designed by famed architect Minoru Yamasaki, who created the former World Trade Center towers in New York City.
“The One Woodward building is located in the heart of Detroit’s technology core, and provides us more space to further accommodate our growing family of companies and the increasing number of businesses that want to leverage the opportunities made in Detroit,” said Gilbert, the Founder and Chairman of Rock Ventures and Quicken Loans. “We continue to bet big on Detroit, and this purchase reinforces our commitment to the exciting entrepreneurial action on Woodward Avenue,” Gilbert added.
The building is approximately 60 percent occupied, and will exceed 90 percent occupancy next month when Quicken Loans and its affiliates lease a total of eight floors in the building. Some current tenants include the Detroit Regional Chamber and law firms Fraser Trebilcock Davis & Dunlap, and Kitch Drutchas Wagner Valitutti & Sherbrook.
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