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Dan Gilbert’s Bedrock has sold the empty historic building at 201 W. Fort Street in downtown Detroit at a loss to Todd Flood, managing partner of Todd Flood Law, Crain’s Detroit Business reports.
The building was built in 1915 and designed by Albert Kahn.
The Flood Law Group currently works out of the Murphy-Telegraph Building on West Congress Street, a quick walk from the Fort Street building.
In a joint statement, Flood and Bedrock said, according to Crain’s:
“The commitment from Todd Flood, a local business and community leader, to expand Flood Law’s headquarters in downtown Detroit and bring new life to 201 (West) Fort is a best-case outcome. Flood Law’s plans include activating 201 (West) Fort Street as a mixed-use, multi-level space with modern amenities.”
Crain’s reports that the building sold for $2.5 million, half of what Bedrock paid in 2017.
