Dan Gilbert’s Bedrock adds to his portfolio of genuine real estate with the acquisition of Sakthi’s former industrial campus along West Fort, west of downtown Detroit.
The nearly 37-acre site includes 529,000 square feet of commercial and production area, 89,000 square feet of work area and flexible area, Bedrock said Tuesday, and also includes more than 10 acres of land for development. undisclosed.
“The acquisition of these assets provides us with a rare opportunity to capitalize on the developing call for business in Detroit,” said Sam Hamburger, vice president of acquisitions and leasing for Bedrock on Tuesday. “By making a capital investment in this shopping complex, we Bedrock will be well placed to strengthen the surrounding neighborhoods by offering a site that will create local jobs and serve as a catalyst for broad economic advancement efforts in the city of Detroit.
Bedrock’s announcement comes when other corporations expand their investments in commercial land in Detroit, despite a pandemic-induced economic downturn.
Fiat Chrysler Automobiles NV is under structure to remodel the inactive Mack Avenue engine complex on the east side of Detroit at the city’s first new meetinghouse in nearly 30 years, and General Motors Co. Electrical meeting plant.
Hamburger said Tuesday that the assets will offer Bedrock the opportunity to offer a storage, distribution and production area near downtown Detroit, which is also “attractive to regional and domestic corporations serving a foreign clientele. “
There is a tenant on the property, MOBIS, one of the car parts of Fiat Chrysler Automobiles NV and Hyundai.
cwilliams@detroitnews. com