Looks like another huge purchase and move for Dan Gilbert. The Quicken Loans founder, alongside Mayor Mike Duggan announced today that One Detroit Center has been bought for $100 Million, and ALLY Financial Inc. will be moving in as the next tenant. The building has a 2,070 parking structure attached as well. One Detroit Center is one of the skyscrapers right downtown at 500 Woodward Avenue.
Gilbert’s latest investment is his second largest property downtown. The only one larger is the former Compuware Building located right next to Campus Martius.
Currently, ALLY occupies space in the Renaissance Center, and has satellite offices in Southfield, Troy, and Auburn Hills. The Mortgage and Lending company is agreeing to a 12 year, 9 month lease of 321,000 square feet. The investment is reported to be close to $50 million.
This is great news for the downtown, and the central business district. Ally has 1,300 employees here in Southeast Michigan, and that is a much needed boost for other businesses downtown. As living space is expanded in and around downtown, this is another great development in Detroit’s story. A great deal of those employees already work in the RenCen, but the move to One Detroit Center would bring the rest of Ally’s Southeast Michigan workforce to the heart of downtown.
The founder and president of Quicken Loans and Rock Ventures now has upwards of 70 properties in and around downtown Detroit.