DTE spinoff to make Gilbert-owned Ally Detroit Center home
DTE Energy Co.'s natural gas pipeline spinoff will move into the Ally Detroit Center owned by billionaire Dan Gilbert's real estate firm near Campus Martius, the companies said Tuesday.
DT Midstream Inc. will open in the Bedrock Management Services LLC building at 500 Woodward on Nov. 1. It will retain nearly 80 employees in the city of Detroit and occupy 26,000 square feet on the 29th floor of the Ally Detroit Center. From there, DTM will oversee operations of natural gas pipelines, storage fields, gathering systems and processing facilities covering the Southern, Midwest and Northeast regions of the United States and Canada.
“With the move of our headquarters into the Ally Detroit Center, we have an opportunity to showcase the city among many important customers from highly respected companies across the U.S. and Canada and meet our goal to attract and retain talent,” DTM CEO David Slater said in a statement.
"Detroit is a global leader in technology and innovation with a diverse, talented workforce who are part of a team that will drive DTM toward our goals of sustained growth within the natural gas industry while also making a positive impact on the environment.”
Crain's Detroit Business first reported the news.
On July 1, DTM spun off from the utility company located about a mile away near the MGM Grand Detroit casino and Beacon Park. Most of the people who will work at DTM's headquarters come from DTE, though DTM employs nearly 300 people nationwide, according to a news release. The Ally Detroit Center location will provide space for up to 84 people.
Bedrock acquired the One Detroit Center in 2015, announcing Ally Financial Inc. was signing a 13-year lease to name and consolidate employees throughout Metro Detroit at the building. The investment plus Ally's lease was placed at $200 million at the time.
“The company’s forward-thinking strategy will not only set them up for success for years to come but provide continued momentum to the wave of industrial technology launching in Detroit," Naumann Idrees, Bedrock’s senior vice president of leasing, said in a statement.