The Platform, a Detroit-based real estate developer, announced that it has acquired the Lakeshore Global Building in New Center.
The company plans to upgrade the building and reposition it for full occupancy.
Located on the northeast avenue of Woodward and Grand Boulevard, the eight-story, 240,000-square-foot building is currently 60 percent occupied.
The sale also includes 4.1 acres across several parcels, currently used as surface parking lots, that are envisioned for future developments by The Platform.
“We are confirming our commitment to the thriving New Center area with the acquisition of the Lakeshore Global building in a landmark location on the Woodward corridor,” said Dietrich Knoer, president and CEO of The Platform. “And taking control of the development parcels on East Grand Boulevard will enable us to participate in and contribute to the vision for the redevelopment of the Milwaukee Junction neighborhood.”
The building was designed by Albert Kahn for the Ford Motor Company in 1908. It was originally four stories, with another four added in 1913.
