The Detroit News in 1917.
Dan Gilbert's collection of properties continues to grow.
The latest: The Detroit News reports that Gilbert's Bedrock Real Estate Services has purchased the Detroit Media Partnership building at 615 W. Lafayette, which houses The Detroit News and Detroit Free Press. Both are moving a few blocks to the Federal Reserve Building at 160 W. Fort.
Louis Aguilar of The News reports that the purchase includes the building and an adjacent parking structure and two surface parking lots. The price was not revealed. The six-story building was built in 1917 and designed by Detroit architect Albert Kahn.
“The Detroit Media Partnership building is a historic gem that has been a fixture in downtown Detroit for nearly a century,” said Jim Ketai, Bedrock’s CEO and Managing Partner, in a written statement, according to the News. “We take great pride in breathing new life into Detroit’s historic buildings and look forward to transforming the DMP building to provide forward thinking, growth-oriented companies a new place to call home.”
The News reports that Bedrock and its affiliates own, now control or manage more than 60 properties in Detroit’s urban core.
The News-Freep aren't the only active papers to sell their headquarters.
Graham Holdings, the former parent of The Washington Post, last year sold the newspaper’s site at 15th and L streets NW to Carr Properties for $159 million.
