Gilbert firm purchases Comerica bank building for $5M
Detroit — A firm linked to Dan Gilbert has purchased Comerica’s downtown Detroit banking center for $5 million.
The bank is preparing to move and reopen next week inside the nearby Penobscot Building.
“We are looking forward to planning a future for one of Detroit’s architectural gems that will activate the entire building and serve the surrounding financial district by continuing the positive momentum downtown,” Bedrock CEO Jim Ketai said in a statement. Bedrock is Gilbert’s real estate arm.
“We are already talking to a few potential tenants that will make excellent additions to the area by answering a growing demand for retail, dining and entertainment destinations.”
According to city land records, the building, which is located at 201 W. Fort St., was purchased in November by Atwater Acquisitions for $5 million, which was less than two weeks after Comerica Bank announced it would relocate its Fort-Washington banking center to the Penobscot Building.
Earlier in 2017, the bank announced it was selling the Albert Kahn-designed building as part of a $3 million investment that involves closing, merging and opening branches in and around downtown Detroit.
Comerica used the ground floor of the 63,000-square-foot building, while the second and third floors were empty, company officials said last year.
Comerica’s new 4,000-square-foot office in the Penobscot Building will open next week at 645 Griswold, Suite 70.