Dan Gilbert, who owns the lion's share of commercial buildings in downtown Detroit, could possibly add to his portfolio by snapping up the majority of the Renaissance Center.
Crain's Detroit Business reports:
A 10-page public notice of what’s called a “put and call agreement” describes Gilbert’s Resurgence Realty LLC’s option to buy the main five-building complex plus other property from Riverfront Holdings Inc., an affiliate of General Motors Co.
This marks the first public confirmation that a sale is under serious consideration, nearly three months after Gilbert’s Bedrock LLC real estate company and GM announced on April 15 that the Detroit-based automaker would move its longtime RenCen headquarters to Gilbert’s $1.4 billion Hudson’s Detroit development north of Campus Martius Park.
Speculation abounds as to what the future holds for the RenCen, with some suggesting it should be razed.
