(CBS DETROIT) – Bedrock announced it has purchased 300 River Place from The Stroh Companies Inc.
This acquisition adds 500,000 square feet of office space, 735 parking spaces, and approximately 4.4 acres of developable land to Bedrock’s growing footprint.READ MORE: Benton Harbor Begins Accepting Bids To Replace Lead Pipes
“The Detroit Riverfront Conservancy and other major stakeholders have done an incredible job of providing an abundance of activity and growth along the riverfront,” said Kofi Bonner, CEO of Bedrock. “We are excited to formally join the Riverfront community and expand on their efforts to make Detroit’s Riverwalk one of the city’s most memorable places for families to gather, friends to play, and people to work.”
The River Place Portfolio acquisition includes:
- 300 River Place Drive: a 500,000 square foot, Class A office building
- Western portion of the River Place Parking Garage: totaling rights to 735 parking spaces
- 2743 Wight & 2748 Franklin: totaling approximately one acre of undeveloped land
- 2615-2655 Atwater: totaling approximately 3.4 acres of undeveloped land
The Stroh Companies has owned 300 River Place since 1979, and the CEO of The Stroh Companies, John Stroh III, said that no other investor in Detroit is better equipped to carry 300 River Place into the future.
Bedrock says they intend to fill all vacant space at 300 River Place while maintaining all current tenants, including the Belle Isle Conservancy and Associated Press.
MORE NEWS: 'Your Life Does Not End Because You Have A Diagnosis': Shantel Smith Opens Up About Her Battle With Multiple Sclerosis Before 'Survivor'
© 2021 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.