ADG and its partners acquired the Ford Building located at 615 Griswold in downtown Detroit in the summer of 2017. The Ford building, built by the famed architect Daniel Burnham of Chicago, IL, was once the tallest building in downtown Detroit during the Industrial Revolution. Its beautiful terracotta walls, white Italian marble and detailed design have been a crown jewel of the city of Detroit for over 100 years. Compromising of 220,000 plus feet over 19 stories, the Ford Building is a prime office and first level retail location located in the heart of the resurgence of the downtown Detroit central business district.
The Ford building currently hosts a variety of retail and office users with beautiful views of the surrounding downtown area. ADG and its partners are planning a multi million dollar, full scale lobby and front entry façade renovation to modernize curb appeal and bring the building into the 21st century class A office marketplace. ADG will also be updating building mechanicals and reprogramming several floors on the top of the building. This will open up continuous prime space for tenants actively looking in a market with limited availability.
Building renovations began November of 2017 and will continue through third/fourth quarter of 2018. This acquisition will return a significant ROI to ADG and its partners in a market where real estate price per foot value is continuously rising month over month.