Billionaire Dan Gilbert continues to grab up property in the Motor City. On Tuesday, Gilbert’s Rock Ventures confirmed that Gilbert has purchased two more buildings on Woodward Avenue.
Gilbert, who ranks as the richest Detroiter on Forbes’ billionaires list, now owns or runs 30 buildings with 7.6 million square feet of property in the city, according to Mlive. That includes four million square feet of commercial space and 3.6 million square feet of parking.
Gilbert, who repeatedly has expressed his belief in Detroit’s potential, has snapped up some of that space for as little as $5 a square foot, rehabilitating a number of properties in the once-empty downtown corridor.
The newest Gilbert acquisitions are at 620 and 630 Woodward Avenue, which are two of the oldest buildings downtown. Each is four stories tall, and the pair were built in 1880. Together, they have 40,000 square feet of office and retail space. Good Luck rebuilding Detroit Dan!
Source