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Bedrock Acquires Detroit Riverfront Complex from Stroh Cos.
Bedrock has acquired 300 River Pl. on the Detroit riverfront from The Stroh Companies, Inc. Originally developed between 1928 and 1939 as part of Parke Davis’ research facilities, River Place Portfolio 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.
“This acquisition puts us in a position to provide a unique offering relative to our existing portfolio, and provides tenants interested in the city of Detroit with direct access to a district where we see a lot of potential,” said Sam Hamburger, VP of acquisitions at Detroit-based Bedrock.
He added, “This acquisition leverages years of hard work by the Stroh Family, the Detroit Riverfront Conservancy, and other stakeholders, and includes multiple assets that we will utilize to further our mission, focused on Detroit’s riverfront.”
CBRE’s Anne Galbraith Kohn represented the Stroh Companies in this transaction.
- ◦Sale/Acquisition
