Bedrock announced Wednesday that is has added another Downtown Detroit building to its portfolio, acquiring the Millender Center garage and retail atrium.
According to Bedrock, the acquisition includes 1,738 parking spaces and eight retail and dining tenants.
The company said that current Millender Center tenants will continue to occupy the building, and the acquisition totals more than 729,000 square feet.
“The acquisition of the Millender Center adds a key downtown Detroit parking asset to the Bedrock portfolio,” Bedrock Chief Investment Officer Catherine Clark said in a statement. “It additionally provides synergies to our Courtyard Detroit Downtown property and the mixed-use amenities located within the area.”
The company was founded in 2011 by Dan Gilbert and owns and operates more than 140 properties in Detroit and Cleveland. The company said they have committed more than $7.5 billion to those buildings.
The garage and atrium connect to the Renaissance Center. Earlier this year, Bedrock entered into an agreement with General Motors to move GM's headquarters from the Ren Cen to the new Hudson's Detroit building.
