Dan Gilbert’s Bedrock buys Cadillac Tower in downtown Detroit
Dan Gilbert’s Bedrock has purchased Cadillac Tower.
The firm said it finalized Tuesday the purchase of the 40-story skyscraper at 65 Cadillac Square. The price was not disclosed for the deal, which was first reported by Crain’s Detroit Business.
The purchase is the latest for Gilbert, whose Bedrock firm has acquired dozens of properties in Detroit’s central business district since the company's founding a decade ago.
"I've long thought that under the right circumstances, given the strategic location of the Cadillac Tower within the downtown core and adjacent to our Monroe site, it would make sense for this property to become part of Bedrock's continued commitment to making downtown a premier destination,” Bedrock CEO Kofi Bonner said in a statement Tuesday.
The 400,000-square-foot Cadillac Tower, a retail and office building, has been on the market since 2019. It overlooks Cadillac Square, where Bedrock hosts numerous seasonal events, including its Downtown Detroit Markets.
The skyscraper's previous owner, developer Zaid Elia, did not immediately respond to a request for comment.