DOCSLIB.ORG

Skyline Sees Influx of Interest from Tenants and Investors Alike

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Skyline Sees Influx of Interest from Tenants and Investors Alike Detroit Skyline overview Detroit Skyline Review | Spring 2014 Smaller options getting smaller; large occupiers face few choices Direct Availability Sublease Availability Future Availability 10 s k c o l b 6 6 e g r a l f 5 o r e b m u N 1 0 25,000-49,999 s.f. 50,000-99,999 s.f. 100,000+ s.f. 35.0 Financial Acvies Professional and Business Services Informaon Government 25.0 ) s d n For more information please contact: a s 15.0 u o h t ( s b 5.0 o J -5.0 500 Griswold 226 East Hudson Suite 2435 Suite 200 -15.0 Detroit, MI 48226 Royal Oak, MI 48067 0 1 2 3 1 1 1 1 0 0 0 0 2 2 2 2 tel +1 313 309 1700 tel +1 248 581 3300 1 2 5 6 8 10 3 4 9 14 7 15 11 12 13 16 17 19 18 20 21 specialized real estate services to clients seeking increased value by owning, occupying and investing Locations in real estate. With annual revenue of $4.0 billion, Jones Lang LaSalle operates in 70 countries from 1: 211 West Fort 9: One Kennedy Square 17: Tower 500 2: 150 West Jefferson 10: 1001 Woodward 18: Tower 600 estate outsourcing services to a property portfolio of 3.0 billion square feet. Its investment management 3: One Woodward Avenue 11: Compuware Headquarters 19: Ford Field business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. 4: One Detroit Center 12: Tower 100 20: For further information, visit www.jll.com. 5: Guardian Building 13: Tower 200 21. Brewery Park 6: Chase Tower 14: Detroit Marriott 7: First National Building 15: Tower 300 ©2014 Jones Lang LaSalle IP, Inc. All rights reserved. All information contained herein is from sources deemed 8: Chrysler House 16: Tower 400 reliable; however, no representation or warranty is made to the accuracy thereof. Detroit Skyline overview Detroit Skyline Review | Spring 2014 Smaller options getting smaller; large occupiers face few choices Direct Availability Sublease Availability Future Availability 10 s k c o l b 6 6 e g r a l f 5 o r e b m u N 1 0 25,000-49,999 s.f. 50,000-99,999 s.f. 100,000+ s.f. 35.0 Financial Acvies Professional and Business Services Informaon Government 25.0 ) s d n For more information please contact: a s 15.0 u o h t ( s b 5.0 o J -5.0 500 Griswold 226 East Hudson Suite 2435 Suite 200 -15.0 Detroit, MI 48226 Royal Oak, MI 48067 0 1 2 3 1 1 1 1 0 0 0 0 2 2 2 2 tel +1 313 309 1700 tel +1 248 581 3300 1 2 5 6 8 10 3 4 9 14 7 15 11 12 13 16 17 19 18 20 21 specialized real estate services to clients seeking increased value by owning, occupying and investing Locations in real estate. With annual revenue of $4.0 billion, Jones Lang LaSalle operates in 70 countries from 1: 211 West Fort 9: One Kennedy Square 17: Tower 500 2: 150 West Jefferson 10: 1001 Woodward 18: Tower 600 estate outsourcing services to a property portfolio of 3.0 billion square feet. Its investment management 3: One Woodward Avenue 11: Compuware Headquarters 19: Ford Field business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. 4: One Detroit Center 12: Tower 100 20: For further information, visit www.jll.com. 5: Guardian Building 13: Tower 200 21. Brewery Park 6: Chase Tower 14: Detroit Marriott 7: First National Building 15: Tower 300 ©2014 Jones Lang LaSalle IP, Inc. All rights reserved. All information contained herein is from sources deemed 8: Chrysler House 16: Tower 400 reliable; however, no representation or warranty is made to the accuracy thereof. Detroit Skyline Review Occupied floor Direct vacant floor Sublease vacant floor An analysis of the Detroit Future available Retail Other commercial use Floor 75 70 65 60 55 50 45 40 35 30 25 20 15 10 5 One Renaissance Renaissance Renaissance Renaissance Renaissance Renaissance Renaissance Building name 211211 West West Ford Ford 150 150West WestJefferson WoodwardOne Woodward OneOne Detroit Detroit Center GuardianGuardian ChaseChase Tower Tower FirstFirst National National ChryslerChrysler House One Kennedy Kennedy 10011001 CompuwareCompuware Headquarters Headquarters TowerCenter 100 TowerCenter 200 DetroitCenter Marriott TowerCenter 300 TowerCenter 400 TowerCenter 500 TowerCenter 600 Ford Field Ford Field MadisonMadison Office BreweryBrewery Park Park Street Jefferson AveAvenue Center BuildingBuilding Building House SquareSquare WoodwardWoodward Tower 100 Tower 200 Marriott Tower 300 Tower 400 Tower 500 Tower 600 Building RBA (s.f.) 450,000 493,145 332,735 957,355 416,207 246,649 1,080,000 576,507 582,354 1,159,488 584,531 576,449 307,277 306,768 331,034 107,415 371,307 RBA (s.f.) 450,000 493,000 360,000 957,000 643,000 505,000 800,000 416,000 247,000 283,000 1,080,000 577,000 582,000 585,000 576,000 307,000 307,000 331,000 100,000 371,000 Percent leased 85.9% 78.2% 89.7% 50.2% 88.2% 96.3% 100.0% 82.2% 81.4% 100.0% 100.0% 82.5% 100.0% 99.3% 29.5% 17.4% 75.4% Percent Avg. directleased rent ($p.s.f.) $21.0086.7% $20.5080.2% $20.7595.3% $24.2564.0% 93.3% 100.0% 99.1% $20.7596.3% $26.58100.0% 97.5% N/A 100.0% $23.2585.3% $23.2592.5% N/A N/A 100.0% $23.2582.7% N/A 100.0% $23.2592.2% $23.25 75.5% $22.5012.7% $21.25 76.3% Direct rent Year built(FS) / renovated 1963/1995 $20.00 1989 $22.50 1962/2012 $23.75 1992 $23.25 $19.25 $23.75 1919/2003 $23.75 2006 $23.75 2003 1976/2005 $23.25 1975/2005 $23.25 1977/2007 1976/2005 1976/2005 $23.25 1981/2003 1981/2005 $23.25 2002 $23.25 2005 $21.75 1989 $21.25 Owner ACQUEST Realty Piedmont Office Rock Ventures iStar Financial Rock Ventures REDICO Compuware Corporation General Motors General Motors General Motors General Motors General Motors General Motors General Motors Detroit Lions Etkin Crain Communications renovated Advisors Realty Trust1989 2012 1992 2005 2011 1990 2003 2006 2009 2003 Company2005 Company2005 Company Company2005 Company2005 Company2003 Company2005 2002 2005 1989 Skyline vacancy cut in half as suburban tenants head downtown Skyline statistics 30% Skyline statistics Metro statistics Inventory 9,969,980 s.f. Inventory 59,997,187 the past 18 months. Those buildings include the Guardian Building, First National 25% Total vacancy 1,142,471 s.f. Total vacancy 15,265,220 y Total vacancy rate 11.5% Total vacancy rate 25.4% c n 20% a 2013 absorption 423,427 s.f. 2013 absorption 750,878 c Skyline has grown rapidly over the last three years, resulting in nearly 1.5 million a v Gross asking rents $19.49 Gross asking rents $22.59 l a 15% square feet of absorption over that time period and a reduction in total vacancy t o T from 26.0 percent to 11.5 percent. While some of this demand growth has been 10% suburban tenants looking to relocate to downtown. The largest three tenants over 5% Recent leasing transactions the last year to make such moves were Title Source, which took 330,000 square 0% Tenant Building Square feet Type 2010 2011 2012 2013 Title Source First National Building 330,000 New Lease feet in the First National Building, Quicken Loans, which added to its already Campbell Ewald Ford Field 122,000 New Lease considerable downtown presence with an additional 260,000 square feet and last, Quicken Loans One Woodward Avenue 120,000 New Lease Quicken Loans One Detroit Center 75,000 Renewal Lowe Campbell Ewald, which leased 122,000 square feet at Ford Field. 150 West Jefferson 70,000 Renewal $23.00 PWC One Detroit Center 70,000 New Lease While Detroit’s Skyline has seen a rise in interest from tenants, it has also Quicken Loans 1001 Woodward Avenue 65,000 New Lease The Kitch Firm One Woodward Avenue 53,000 Renewal s captured the attention of investors, most notably, Dan Gilbert, founder and t General Motors Renaissance Center Tower 200 34,000 New Lease n e r $22.50 SEMCOG 1001 Woodward Avenue 28,000 New Lease Chairman of Quicken Loans and Rock Ventures. Over the course of the last g n i k Gateway Community Health Brewery Park 26,000 New Lease s a three years, Rock Ventures’ real estate portfolio has grown from nothing to Ally Financial Renaissance Center Tower 200 17,000 New Lease s s o r $22.00 The Professional Group Chrysler House 15,000 New Lease Detroit’s growing urban core. The group also owns several parking garages G Amazon 150 West Jefferson 10,000 New Lease and a surface lot totaling more than 4,250 parking spaces. Some of Gilbert’s $21.50 2010 2011 2012 2013 One Woodward Avenue, Chrysler House and 1001 Woodward. Detroit Skyline overview Detroit Skyline Review | Spring 2014 Smaller options getting smaller; large occupiers face few choices Direct Availability Sublease Availability Future Availability 10 s k c o l b 6 6 e g r a l f 5 o r e b m u N 1 0 25,000-49,999 s.f.
Load more

Recommended publications
  • 8364 Licensed Charities As of 3/10/2020 MICS 24404 MICS 52720 T
    8364 Licensed Charities as of 3/10/2020 MICS 24404 MICS 52720 T. Rowe Price Program for Charitable Giving, Inc. The David Sheldrick Wildlife Trust USA, Inc. 100 E. Pratt St 25283 Cabot Road, Ste. 101 Baltimore MD 21202 Laguna Hills CA 92653 Phone: (410)345-3457 Phone: (949)305-3785 Expiration Date: 10/31/2020 Expiration Date: 10/31/2020 MICS 52752 MICS 60851 1 For 2 Education Foundation 1 Michigan for the Global Majority 4337 E. Grand River, Ste. 198 1920 Scotten St. Howell MI 48843 Detroit MI 48209 Phone: (425)299-4484 Phone: (313)338-9397 Expiration Date: 07/31/2020 Expiration Date: 07/31/2020 MICS 46501 MICS 60769 1 Voice Can Help 10 Thousand Windows, Inc. 3290 Palm Aire Drive 348 N Canyons Pkwy Rochester Hills MI 48309 Livermore CA 94551 Phone: (248)703-3088 Phone: (571)263-2035 Expiration Date: 07/31/2021 Expiration Date: 03/31/2020 MICS 56240 MICS 10978 10/40 Connections, Inc. 100 Black Men of Greater Detroit, Inc 2120 Northgate Park Lane Suite 400 Attn: Donald Ferguson Chattanooga TN 37415 1432 Oakmont Ct. Phone: (423)468-4871 Lake Orion MI 48362 Expiration Date: 07/31/2020 Phone: (313)874-4811 Expiration Date: 07/31/2020 MICS 25388 MICS 43928 100 Club of Saginaw County 100 Women Strong, Inc. 5195 Hampton Place 2807 S. State Street Saginaw MI 48604 Saint Joseph MI 49085 Phone: (989)790-3900 Phone: (888)982-1400 Expiration Date: 07/31/2020 Expiration Date: 07/31/2020 MICS 58897 MICS 60079 1888 Message Study Committee, Inc.
    [Show full text]
  • CRAIN's LIST: LARGEST MEETING Facilitiesranked by Total Square Feet of Meeting Space
    CRAIN'S LIST: LARGEST MEETING FACILITIES Ranked by total square feet of meeting space Total Capacity of largest square Square feet meeting room Number Facility feet of of largest theater/classroom of Address meeting meeting banquet/cocktail meeting Rank Phone; website Top executive space space style rooms Amenities Cobo Center Thom Connors 897,500 27,000 2,880 / 1,800 70 Free Wi-Fi, 2,200 on-site parking spots, concierge and business center, on-site 1. 1 Washington Blvd., Detroit 48226 general manager 1,800 / 2,200 catering, contractors on-site to provide services to meetings and trade shows (313) 877-8777; www.cobocenter.com The Henry Ford Patricia Mooradian 544,020 22,000 600 / 200 20 Horse-drawn carriages, Model T rides, historic carousel, steam locomotive, historic 2. 20900 Oakwood Blvd., Dearborn 48124 president 600 / 5,000 re-enactments, entertainment, tours, curators, audiovisual, fireworks, gardens and (313) 982-6001; www.thehenryford.org private courtyards with most venues, organic and local menus available Joe Louis Arena Tom Wilson 439,380 30,197 20,000 / 10,000 120 Unique event location for meetings, events, fundraisers, private ice skating parties 19 Steve Yzerman Drive, Detroit 48226 president and CEO, 2,500 / 3,500 and corporate experiential opportunities (313) 394-7593; www.olympiaentertainment.com Olympia 3. Entertainment/Detroit Red Wings Ford Field Tom Lewand 375,000 100,000 65,000 B/ 500 24 Caterer, stadium tours, on-field activities, attached parking structure 4. 2000 Brush St., Detroit 48226 president 1,200 B/ 3,500 B (313) 262-2000; www.detroitlions.com Suburban Collection Showplace Blair Bowman 350,000 215,000 12,000 / 6,000 30 Attached 126 room Hyatt Place Hotel, 25,000 square feet of pre-function space, 5.
    [Show full text]
  • Inclusive Futures’ Across Detroit During Month of Design
    Expanded Detroit Design 139 Exhibition to feature 70 projects embodying ‘Inclusive Futures’ across Detroit during Month of Design ● Exhibition is free and open to the public Sept. 5-30 in four convenient Detroit locations in the Downtown, Old Redford, Fitzgerald/Bagley and Morningside neighborhoods ● Featured projects include exemplary adaptive reuse projects to sustainable civil engineering solutions, mobility strategies, visionary education programs, and master plans driven by inclusion, among others ● Free programming includes the first public tours of the iconic Book Tower restoration, kids’ urban planning events, Pecha Kucha night, Affordable Housing discussions, an Inclusive Economic Development event and more ● Grand Opening Celebration, free and open to the public, takes place at 1001 Woodward on Sept. 5, 7-9pm CLICK HERE TO DOWNLOAD A PROJECT MAP August 28, 2019 (DETROIT) – As Detroit’s economic growth continues to accelerate, the second biennial Detroit Design 139 (DD139) exhibition will display 70 projects, policies and concepts that promote best practices for ensuring that the future of Detroit’s built and natural environment is designed with everyone in mind. This year’s exhibition is nearly double the size of the inaugural 2017 edition, with expanded reach to three new neighborhood locations. A full schedule of free programming, from a design-themed Pecha Kucha to the first public tours of the iconic Book Tower, will take place in each of the exhibition’s four locations and beyond: • Downtown (1001 Woodward) • Morningside (16451 E. Warren Ave.) • Old Redford (17340 Lahser Rd.) • Fitzgerald/Bagley (7426 McNichols Rd.) “The design world has its eye on Detroit because we are experiencing significant growth very quickly, and we are at a critical moment in terms of steering that momentum in a positive direction for all Detroiters,” said Melissa Dittmer, Chief Design Officer of Bedrock and founding partner of Detroit Design 139.
    [Show full text]
  • Can Public Transit Revitalize Detroit? the Qline and the People Mover”
    “Can Public Transit Revitalize Detroit? The QLine and the People Mover” John B. Sutcliffe, Sarah Cipkar and Geoffrey Alchin Department of Political Science, University of Windsor Windsor, Ontario, N9B 3P4 Email: [email protected] Paper prepared for presentation at the Canadian Political Science Association Annual Conference, Vancouver, BC. June 2019. This is a working draft. Please do not cite without permission. 1 “Can Public Transit Revitalize Detroit? The QLine and the People Mover" Introduction On May 12, 2017 a new streetcar – the QLine – began operating in Detroit, running along a 3.3- mile (6.6-mile return) route on Woodward Avenue, one of the central north-south roads in the city. This project is one example of the return to prominence of streetcars in the (re)development of American cities. Having fallen into disuse and abandonment in hundreds of American cities during the early part of the 20th century, this form of public transit has returned in many cities including, for example, Dallas, Cincinnati, Kansas City, and Portland. As streetcar services have returned to prominence, so too has the debate about their utility as a form of public transit, the function they serve in a city, and who they serve (Brown 2013; Culver 2017). These debates are evident in the case of Detroit. Proponents of the QLine – most prominently the individuals and organizations that advocated for its creation and provided the majority of the start-up capital – have praised the streetcar for acting as a spur to development, for being a forward-thinking transit system and for acting as a first step towards a comprehensive regional transit system in Metro Detroit (see M-1 Rail 2018).
    [Show full text]
  • Celebrating 20 Years of Economic Development Celebrating 20 Years Of
    Celebrating 20 Years of Economic Development Celebrating 20 Years of Jobs Created or Retained 7,037 Housing Units Created or Renovated 4,051 Residential Square Feet Developed 4,679,569 Commercial Square Feet Developed 4,002,746 Retail Square Feet Developed 765,577 Investment Since Inception $251,258,268 Total Investment Leveraged Since Inception $1,420,000,000 Investing for a Better Detroit Throughout the Greater Downtown you can see cranes lifting steel into place, hear jackhammers carving concrete and watch construction workers moving about development sites. People are walking, biking and shopping. The demand for housing remains at an all-time high, new retail attractions are flourishing and there are lines at many new restaurants. These signals of economic growth are gratifying and tell a story of public, private and philanthropic collaboration. In this 2015 Annual Report marking Invest Detroit’s 20-year anniversary, we are celebrating the positive changes to the landscape and the partnerships that continue to make them possible. In 1995, with a vision of creating a catalyst for investment, the founders of Invest Detroit launched one loan fund capitalized with $48M to attract and expand businesses and support real estate development in the City of Detroit. Its mission was to create jobs, increase the tax base and provide a better quality of life for Detroit residents. As the portfolio grew and the economy shifted, new partnership opportunities were identified and new development strategies were envisioned. The 1995 2001 2004 Detroit Investment Board of Directors Developed targeted Fund founded by focused on market- loan program to members of Detroit rate housing and promote housing Renaissance (now job creation density in the Business Leaders Lower Woodward for Michigan) Corridor public, private and philanthropic sectors recognized the the Auburn and First National Building.
    [Show full text]
  • Detroit Business Certification Program (DBCP) Business Register (As of January 11, 2016)
    Detroit Business Certification Program (DBCP) Business Register (as of January 11, 2016) Certification Certification Type Expire Date (1 yr from end date or prev. cert date use Business NIGP Name/Mailing Address of Business Contact Information DBB DHB DSB MBE WBE later date) Type Codes Goods & Services Offered Web Site Email address 1 Way Service, Inc. 4195 Central Street Chelsea Laginess Specialty 912 913 [email protected] Detroit, MI 48210 313-846-0550 DHB DSB 02/19/16 Construction 962 999 [email protected] 360water creates customized online Operation & Maintenance, 715 910 Asset Management, Safety, 913 918 Document Storage, training for 360 Water, Inc. 920 924 water, power, and private utlitities. 965 W. Third Avenue Laura Raish Professional 936 958 Our online training is certified for Columbus, OH 43212 614-294-3600 WBE 04/22/16 Service 968 license renewal purposes. www.360water.com [email protected] 3LK Construction, LLC 1401 Howard Street Lorenzo Walker General Detroit, MI 48216 313-962-8700 DHB DSB MBE 06/16/16 Construction 912 www.3LKconstruction.com [email protected] Providing towing & storage service for all types of vehicles, boats, SUVs, Motorcycles, tractor, trailers, light & Heavy duty for accidents, stolen recovers, aban vehicles & auction them for the 7-D's Towing & Storage Inc. 060 065 Detroit Police Department. Also 5700 E. Nevada Julie Semma-Lieberman 070 075 used cars and auto parts and Detroit, MI 48234 313-891-1640 DHB DSB 01/29/16 Retail, Service 560 928 repair vehicles. [email protected] 84 Lumber Company 540 630 Lumbar Yard, building supply 1019 Route 519 Bethany Cypher General 635 770 business, installed sales, roof Eighty Four, PA 15330 724-228-8820 WBE 11/04/16 Construction 445 450 truss manufacturing www.84Lumber.com [email protected] Page 1 of 38 Detroit Business Certification Program (DBCP) Business Register (as of January 11, 2016) Certification Certification Type Expire Date (1 yr from end date or prev.
    [Show full text]
  • Mergers & Acquisitions
    20120130-NEWS--0001-NAT-CCI-CD_-- 1/27/2012 6:57 PM Page 1 ® www.crainsdetroit.com Vol. 28, No. 5 JANUARY 30 – FEBRUARY 5, 2012 $2 a copy; $59 a year ©Entire contents copyright 2012 by Crain Communications Inc. All rights reserved Page 3 Roncelli rift: Ex-VP fired In signing Fielder, Ilitch Tax credit by brother seeks $36M Developers isn’t stretching dough find a way to make Pizza empire can swallow Tigers’ payroll added to Pontiac BY BILL SHEA prises Inc. co-founder and Tigers owner loft project CRAIN’S DETROIT BUSINESS Mike Ilitch, instead can rely on a variety of revenue sources to meet his upcoming happen No, the iconic Little Caesars $5 Hot-N- payroll, which is likely to surpass $110 Ready pizza isn’t increasing in price to million to $120 million in salaries and autism bills pay for superstar slugger Prince Fielder’s bonuses — a figure that inflates further Business leaders new nine-year, $214 million contract with when benefits are added. updates its New the Detroit Tigers. The payroll includes a combined Ticket prices, set for the 2012 season in $63 million alone this season to Fielder Move intended to offset Michigan plan December, won’t suddenly go up, either. ($23 million), Miguel Cabrera ($21 million) That was the message from Chris Ilitch, and Justin Verlander ($20 million). president of the Ilitch Holdings Inc. family of That spending is typical of markets insurance mandate companies, after the larger than Detroit, but it isn’t thought to Finance Extra Fielder signing BY JAY GREENE be financially stressful for the wealthy Il- CRAIN’S DETROIT BUSINESS was made offi- itches, baseball insiders say.
    [Show full text]
  • Detroit First Quarter 2003 A
    NATIONAL REAL ESTATE INDEX M M ETRO Detroit ETRO Vol. 37 First Quarter 2003 M M ARKET ARKET Analyzes: Reports: CBD Office Property Prices Retail Property Rents Apartments Sector Forecasts Suburban Office Demographic Highlights Industrial Job Formation Trends Local Economy Economic Base Profile Educational Achievement F Tax Structure F Quality of Life Factors ACTS ACTS A publication of the National Real Estate Index PPR GlobalGlobal RealReal AnalyticsAnalytics Detroit Vol. 37 ✯ Report Format This report is organized as follows. Section I A series of other important factors, including provides a snapshot that highlights the key eco- retail sales trends and international trade, are nomic, demographic and real estate-related reported in Section VI. Local and state fiscal findings of the study. Sections II through IX policies, including taxes and federal spending, provide an in-depth look (generally in a tabular are highlighted in Section VII. Several key qual- format) at the key economic, demographic, ity-of-life considerations are summarized in public policy, and quality of life factors that can Section VIII. affect the demand for real estate. In Section IX, local market price, rent and capi- In Section II, recent population trends are talization rate trends for the preceding 12 months reported. Section III analyzes the local eco- are reported. Section X provides a quarterly nomic base and current labor force and job for- review, including analysis of the local economy, mation trends. Various educational costs and as well as analyses of the office, light industrial, parameters are provided in Section IV. Local liv- retail, apartment, and hospitality sectors. ing costs are explored in Section V.
    [Show full text]
  • Chicago’S Central Loop
    EXECUTIVE SUMMARY Holliday Fenoglio Fowler, L.P. (“HFF”) is pleased to present the outstanding KEY PROPERTY STATISTICS value-add investment opportunity to obtain a fee simple interest in 105 West Property Type Office with Ground Adams Street (also known as The Clark Adams Building for its prominence at Floor Retail the corner of this historic intersection), a historic 41-story 314,855 RSF office Total Area Total: 314,855 RSF tower located in the heart of Chicago’s Central Loop. Originally known as the Office: 306,705 RSF Retail: 8,150 RSF Banker’s Building, the Burnham Brothers, sons of the renowned architect and 63.0% urban designer, Daniel Burnham, completed the Property in 1927 which at the Percent Leased time was the tallest continuous-clad brick building in Chicago. The Property Stories 41 Stories is a multi-tenant office building sitting on top of a separately owned 430-room Club Quarters Hotel (floors 3-10) which opened in 2001 as well as Elephant Date Completed/ 1927/1988/1999/ & Castle, a pub and restaurant (also not included in the offering). The neo- Renovated 2006 - 2011 classical structure is the tallest continuous-clad brick building in Chicago and Average Floor Plates 17,000 RSF is primly located adjacent to the Federal Government Core, a multi-building area including Mies van der Rohe’s Federal Plaza and City Hall, as well as the Slab to Slab Ceiling 12' LaSalle Street Corridor, the address of choice for many of Chicago’s prominent Height law firms, financial institutions, and professional service firms. The Clark Adams Building meets all the prerequisites for an exceptional oppor- tunistic investment; current vacancy, attractive basis, substantial development potential, an extremely favorable financing environment and a realistic and readily achievable exit strategy.
    [Show full text]
  • Rocket Companies, Inc
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission file number: 001-39432 Rocket Companies, Inc. (Exact name of registrant as specified in its charter) Delaware 84-4946470 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1050 Woodward Avenue, Detroit, MI 48226 (Address of principal executive offices) (Zip Code) (313) 373-7990 (Registrant’s telephone number, including area code) N/A (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock, par value $0.00001 per share RKT New York Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☐ No ☒ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
    [Show full text]
  • Rocket Fiber's Launch Includes Second Stage
    20150302-NEWS--0001-NAT-CCI-CD_-- 2/27/2015 5:29 PM Page 1 ® www.crainsdetroit.com Vol. 31, No. 9 MARCH 2 – 8, 2015 $2 a copy; $59 a year ©Entire contents copyright 2015 by Crain Communications Inc. All rights reserved Page 3 ROCKET FIBER:PHASE 1 COVERAGE AREA Panasonic unit plays ‘Taps’ ‘To chase for apps, rethinks strategy According to figures provided by Rocket the animal’ Fiber, the download times for ... “Star Wars” movie on Blu-ray: about seven hours at a typical residential Internet speed of Packard Plant owner eyes bids 10 megabits per second but about 4½ minutes at gigabit speed. for historic downtown buildings An album on iTunes: About one minute on LOOKING BACK: ’80s office residential Internet and less than a second BY KIRK PINHO at gigabit speed boom still rumbles in ’burbs CRAIN’S DETROIT BUSINESS Over breakfast at the Inn on Ferry Street in Lions invite Midtown, Fernando Palazuelo slides salt and fans to pepper shakers across the table like chess pieces. They are a representation of his Detroit take a hike real estate strategy. Yes, he says, he’s getting at new Rocket Fiber’s launch ready to make a series of big moves. The new owner of the 3.5 million-square-foot fantasy football camp Packard Plant on the city’s east side has much broader ambitions for his portfolio in the city, which first took notice of him in 2013 when he Retirement Communities bought the shuttered plant — all 47 buildings, all 40 acres — for a mere $405,000 at a Wayne includes second stage County tax foreclosure auction.
    [Show full text]
  • American City: Detroit Architecture, 1845-2005
    A Wayne State University Press Copyrighted Material m er i ca n Detroit Architecture 1845–2005 C Text by Robert Sharoff Photographs by William Zbaren i ty A Painted Turtle book Detroit, Michigan Wayne State University Press Copyrighted Material Contents Preface viii Guardian Building 56 Acknowledgments x David Stott Building 60 Introduction xiii Fisher Building 62 Horace H. Rackham Building 64 American City Coleman A. Young Municipal Center 68 Fort Wayne 2 Turkel House 70 Lighthouse Supply Depot 4 McGregor Memorial Conference Center 72 R. H. Traver Building 6 Lafayette Park 76 Wright-Kay Building 8 One Woodward 80 R. Hirt Jr. Co. Building 10 First Federal Bank Building 82 Chauncey Hurlbut Memorial Gate 12 Frank Murphy Hall of Justice 84 Detroit Cornice and Slate Company 14 Smith, Hinchman, and Grylls Building 86 Wayne County Building 16 Kresge-Ford Building 88 Savoyard Centre 18 SBC Building 90 Belle Isle Conservatory 20 Renaissance Center 92 Harmonie Centre 22 Horace E. Dodge and Son Dime Building 24 Memorial Fountain 96 L. B. King and Company Building 26 Detroit Receiving Hospital 98 Michigan Central Railroad Station 28 Coleman A. Young Community Center 100 R. H. Fyfe’s Shoe Store Building 30 Cobo Hall and Convention Center 102 Orchestra Hall 32 One Detroit Center 104 Detroit Public Library, Main Branch 34 John D. Dingell VA Hospital Cadillac Place 38 and Medical Center 106 Charles H. Wright Museum Women’s City Club 40 of African American History 108 Bankers Trust Company Building 42 Compuware Building 110 James Scott Fountain 44 Cass Technical High School 112 Buhl Building 46 Detroit Institute of Arts 48 Index of Buildings 116 Fox Theatre 50 Index of Architects, Architecture Firms, Penobscot Building 52 Designers, and Artists 118 Park Place Apartments 54 Bibliography 121.
    [Show full text]