Detroit — Dan Gilbert’s Bedrock Detroit has acquired another downtown office building and parking garage.
The company announced Monday that it purchased the 27-story Buhl Building located near the corner of Griswold and Congress in the Financial District. The deal also gives Bedrock the adjoining parking garage with 652 parking spaces.
According to Bedrock, the Buhl Building was constructed in 1925 and has 390,000 square feet of floor space.
Jim Ketai, CEO of Bedrock, said the building represents “one of the most of prestigious office buildings in Detroit.”
Bedrockalso plans to make upgrades to the Buhl.
“As Bedrock always does for our iconic building acquisitions, our strategy for the Buhl building balances the importance of respecting its history and architecture with ensuring a smooth transition for all of the existing tenants,” Ketai said in a statement. “We also look forward to improving common areas, technology and implementing modern building infrastructure in the building and garage.”
The Buhl Building currently houses 57 tenants including Detroit People Mover and SMART Transportation offices and several law firms.
Gabrielle Poshadlo, a spokeswoman for Bedrock, said the building is about 60 percent occupied.
Bedrock intends to fill the vacant space, but it’s unclear what will move in, Poshadlo said.