Bedrock Announces Acquisition of Lofts @ Woodward Center

Lofts @ Woodward Center features first-floor retail space, residential lofts and parking

January 19, 2016 [DETROIT]Bedrock Real Estate Services today announced the acquisition of the Lofts @ Woodward Center, three adjoining historic buildings located at 1424-1448 Woodward Ave., on the east side of Woodward between Grand River Avenue and John R Street. The property contains three first-floor retail spaces and 61 residential units totaling approximately 105,000 square feet. The acquisition includes a surface lot located behind the buildings on Farmer Street which contains 28 parking spaces.

The Lofts @ Woodward Center provides key retail and residential space along Woodward Avenue, one of the city’s most celebrated and historical arteries in Detroit’s burgeoning downtown shopping, dining and technology district. The buildings will soon be connected to Detroit’s high-speed internet provider Rocket Fiber. The lightning-fast gigabit internet service is a huge draw for both new businesses and residential tenants.

The Lofts are located one block south of The Madison Block, which is quickly becoming one of the most innovative technology hubs in the country filled with creative companies and entrepreneurial startups, as well as well as tech giants Google for Entrepreneurs, Microsoft Ventures and Twitter.

“The acquisition of the Lofts @ Woodward Center will allow us to add to a strong mix of retail and residential space along Woodward Avenue, which is crucial for Detroit’s sustained growth as a one-of-a-kind destination,” said Jim Ketai, Managing Partner and CEO of Bedrock Real Estate Services. “These buildings are in a prime location along the future route of the M-1 RAIL, within walking distance to many unique restaurants, retailers and exciting technology companies.”

Lofts @ Woodward Center (3 Buildings + 1 Surface Parking Lot)
-1424-1448 Woodward Avenue
-Located on the east side of the 1400 block of Woodward Avenue between Grand River Avenue and John R Street
-Built between 1896-1910, and listed on the National Register of Historic Places
-15,000 square feet of first-floor retail, along with 61 residential units totaling approximately 105,000 square feet
-A 28 space surface parking lot located behind the buildings on Farmer Street

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About Bedrock Real Estate Services

Detroit-based Bedrock Real Estate Services is a full-service real estate firm specializing in acquiring, leasing, financing, developing and managing commercial and residential space. Since its founding in 2011, Bedrock has located more than 150 office and retail tenants to Detroit’s technology-centric downtown. In addition, Bedrock and its affiliates have invested nearly $2.2 billion in acquiring, renovating and developing 85+ properties in downtown Detroit totaling nearly 14 million square feet.

For more information, visit www.bedrockmgt.com or engage with us on Twitter @BedrockRES and Facebook.

For leasing, call Bedrock at 888-300-9833.

Contact:

Robin Schwartz
Bedrock Real Estate Services
(313) 373-6533
RobinSchwartz@bedrockmgt.com