For The First Time: All The Facts And Figures On Dan Gilbert's Investment In Detroit
Everyone knows Dan Gilbert's Rock Ventures has made an enormous investment in downtown Detroit over the past three years.
Today, we have the facts and figures that quantify those investments, courtesy of Gilbert's public relations team.
In short, Rock Ventures has 9,200 employees in Detroit and more than 30 buildings with 7.5 million square feet of office space, which is more than two Packard Plants combined. It also controls 10,096 parking spots.
The entire project is believed to be an unprecedented involvement for any individual or entity in Detroit's history, as well as one of the largest investments in any large American city by one organization.
According to Rock:
Detroit-based Rock Ventures is the umbrella entity of Dan Gilbert’s portfolio of companies, investments and real estate. Rock Ventures’ flagship company is Quicken Loans, the nation’s largest online home lender and third largest mortgage retail lender. Rock Ventures owns properties primarily in Detroit and Cleveland.
- Dan Gilbert, chairman of Rock Ventures and Quicken Loans and majority owner of the Cleveland Cavaliers
- Matt Cullen, president and CEO of Rock Ventures
Rock Ventures and its affiliated companies across the country employ more than 15,000 team members from more than 75 companies. Approximately 9,200 Rock Ventures team members work in downtown Detroit: 3,600 of these jobs were moved from suburban Detroit to the city’s central business district; another 5,600 jobs were created in Detroit.
Rock Ventures owns or controls 30+ properties (buildings and/or store fronts) in downtown Detroit totaling nearly 7.5 million square feet. Nearly four million square feet is office/retail; another 3.7 million square feet is comprised of parking (10,096 parking spaces).
Bedrock Real Estate Services, Rock Ventures’ full service property management firm, specializes in purchasing, leasing, financing, developing and managing these properties.
- M@dison Building, 1555 Broadway, 50,000 square feet (100 percent occupied)
- Chase Tower, 611 Woodward Ave., 524,600 square feet (100 percent occupied)
- First National Building, 660 Woodward Ave., 822,700 square feet (96 percent occupied)
- Chrysler House, 719 Griswold St., 335,000 square feet (98 percent occupied)
- Federal Reserve Building, 160 W. Fort St., 167,400 square feet (23 percent occupied)
- Wright-Kay Building, 1500 Woodward Ave., 19,000 square feet (43 percent occupied)
- Lane Bryant Building, 1520 Woodward Ave., 40,400 square feet (32 percent occupied)
- Arts League of Michigan Building, 1528 Woodward Ave., 36,500 square feet (64 percent occupied)
- 1550 Woodward Ave., 9,800 square feet
- One Woodward Building, 1 Woodward Ave., 359,300 square feet (96 percent occupied)
- Kresge Building, 1201 Woodward Ave., 53,700 square feet
- 1217 Woodward Ave., 29,000 square feet
- 1412 Woodward Ave., 6,000 square feet
- Cary Building Lofts, 1301 Broadway St., 17,600 square feet (27 percent occupied)
- Small Plates Building, 1521 Broadway St., 9,300 square feet (100 percent occupied)
- 1001 Woodward Ave., 286,500 square feet (94 percent occupied)
- Vinton Building, 600 Woodward Ave., 54,600 square feet
- Greektown Casino, 555 East Lafayette, 361,600 square feet
- Greektown Hotel, 1200 Saint Antoine St., 460,000 square feet
- 1238 Randolph St., 12,800 square feet
- 620 Woodward Ave., 16,000 square feet (25 percent occupied)
- 630 Woodward Ave., 24,000 square feet
- Lofts of Merchant Row, 45,000 square feet of first floor retail, on west side of Woodward between Grand River and State Street (77 percent occupied)
- 1241 Woodward, 3,725 square feet
- 1249 Woodward, 11,988 square feet (588 square feet above ground with additional basement space)
- 1253 Woodward, 3,573 square feet
- 1261 Woodward, 6,175 square feet (2,084 square feet additional mezzanine space)
- 1275 Woodward, 1,785 square feet
- 1425 Woodward, 2,394 square feet
- 1433 Woodward, 3,140 square feet
- 1441 Woodward, 4,000 square feet
- 1447 Woodward, 5,525 square feet
- Woodward Lofts, 15,000 square feet of first floor retail, on the east side of the street between Grand River and John R on Woodward Avenue, (19 percent occupied)
- 1424 Woodward, 2,964 square feet
- 1426 Woodward, 6,245 square feet
- 1448 Woodward, 4,010 square feet (1,985 square feet additional mezzanine space)
Garages and Lots (10,096 parking spaces)
- Two Detroit Center Parking Garage, 160 E Congress St., 1,106 parking spaces
- Financial District Garage, 730 Shelby St., 938 parking spaces
- Z-Lot Development (to be completed December 2013), Corner of Broadway & East Grand River, 33,000 square feet retail; 1,287 parking spaces
- 1001 Woodward Garage, 1001 Woodward Ave., 723 parking spaces
- First National Garage, 660 Woodward Ave., 477 parking spaces
- Federal Reserve Lot, 160 W. Fort St., 11 parking spaces
- One Woodward Garage, 1 Woodward Ave., 101 parking spaces
- Greektown Hotel-Casino Garage, 1200 St. Antoine, 2,800 parking spaces
- Brush Street Garage, 1001 Brush St., 1,000 parking spaces
- Fort Street Garage, 419 E. Fort St., 628 parking spaces
- New Valet Garage, 500 Macomb St., 899 parking spaces
- M@dison Lot, 1545 Broadway St., 25 parking spaces
- Vinton Lot, 600 Woodward Ave., 10 parking spaces
- Randolph Lot, 748 Randolph St., 12 parking spaces
- Boydell Lot, 422 E. Lafayette St., 79 parking spaces
Rock Ventures also leases four floors in the Compuware Building and three floors in One Detroit Center.
To view Rock Ventures’ Opportunity Detroit chronology and list of tenants, please click here.