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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: John Vosilla who wrote (544)5/5/2012 12:02:25 PM
From: tejek  Read Replies (1) of 2722
 
Retailers 'tripping over themselves' to get in Gilbert-owned buildings

By Louis Aguilar

The Detroit News
    Hundreds of retailers and other small firms have inquired about setting up shop in downtown Detroit buildings owned by Quicken Loans Inc. founder Dan Gilbert and his partners, a Quicken Loans-affiliated executive said Tuesday.

    "People are tripping over themselves" to move into the buildings, said Bruce Schwartz, Detroit relocation ambassador of Bedrock Real Estate Services, the real estate arm overseeing Gilbert's expanding downtown empire.

    Schwartz and Bedrock Managing Partner Jim Ketai spoke Tuesday afternoon at a Detroit Regional Chamber event in the MotorCity Casino Hotel.

    "We've gotten hundreds of proposals, and we are vetting them now," Schwartz said. Ketai described the retailers include "restaurants, grocery stores, furniture."

    Every downtown building Gilbert and company will buy will always have first-floor retail, Ketai said. Gilbert and his partners own nine downtown buildings.

    "We want the right retailer, the right spot," Ketai said. "The kind of retailer we can't get in the suburbs."

    The two executives also said Bedrock is considering the vacant space where the former Hudson's department store used to be located for building two residential towers.

    From The Detroit News: http://www.detroitnews.com/article/20120424/BIZ/204240431#ixzz1u0mZwCCY
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