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Landmarked Detroit Hotel Goes Up for Sale
Newmark is marketing the sale of the Roberts Riverwalk Hotel, located at 1000 River Place Dr. in Detroit. Senior managing directors Larry Emmons and Patrick Shannon are representing the seller, Roberts Hotels Detroit, LLC, which is offering the property as a redevelopment joint venture or as a sale to a new developer.
Located in an Opportunity Zone on the Detroit River, the 112,000-square-foot Roberts Riverwalk Hotel is in the new Detroit Riverwalk District and within walking distance to downtown Detroit. The additional developable acreage of land at the property makes this a prime redevelopment opportunity for mixed-use or multifamily.
The landmarked property began life in 1902 as a research facility for Parke-Davis, reportedly the first of its kind in the U.S. Michael V. Roberts, one of the largest mixed-use redevelopers in St. Louis and one of the largest minority hotel chain owners in the U.S., has owned it since 2010.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
- ◦Sale/Acquisition
