Two towers that are part of the Renaissance Center complex have been sold to Friedman Real Estate, the organization announced this week.
Friedman Real Estate, based in Farmington Hills, purchased the 500 River East Tower and 600 River East Tower from LMC Phase II.
According to Friedman Real Estate, it has also reached a long-term lease with Blue Cross Blue Shield of Michigan, which is currently renting space in the tower since 2011.
“The new lease arrangement extends our lease as the sole tenant for 500 River East Tower, which is the base for several major Blue Cross divisions,” said Sandy Alston-Childs, vice president, Corporate Services for Blue Cross. “It reflects our unwavering commitment to downtown Detroit, where we have been a member of the business community for more than 80 years.”
The agreement also will open up hundreds of thousands of square feet inside the 600 River East Tower for corporate users.
“Since the construction of 500 & 600 River East Towers, it has been the chosen home for prominent corporate tenants. We are excited to present a significant and rare opportunity to the market for a corporation to make 600 River East Tower a space of their own,” said David Friedman of Friedman Real Estate.
Both towers were part of the second phase of Renaissance Center construction and opened in 1981.
