Quicken Loans founder and chairman Dan Gilbert is looking farsighted for not only moving his company to downtown Detroit in 2010, but moving to buy or control through master leases more than 40 buildings spanning 8 million square feet, according to the latest figures release by Gilbert’s umbrella firm, Rock Ventures, and reported by MLiveMedia Group.

“They’re being swallowed up almost as quickly as we have them available, which is a concern because we’re pushing, pushing, pushing to get more companies to come down here, and we’re running out of space,” Jim Ketai, managing partner of Bedrock Real Estate Services, tells the Detroit Free Press.

Detroit’s vacancy rate has dipped from a 2010 high of 33 percent to around 25 percent, the Free Press reports.

A successful renovation of the Madison Theatre as a space for tech startups has grown into “The M@dison Block,” a sort of startup zone bordered by Woodward Avenue, Broadway, Witherell and John R. The M@dison Block is a partnership between Detroit Venture Partners, a Google-backed tech training institute called Grand Circus, Gilbert’s Bedrock Real Estate Services, and Bizdom, a startup incubator program Gilbert founded.

Bedrock’s latest project is the “Z”, a 10-story, 1,300-space parking garage with 34,000 square feet of retail space on the ground floor that will feature murals by 30 street artists.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
We are less than 1 week away from Inman Connect! Get your ticket for $99 before prices go up next week.GET YOUR TICKET×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription