Stockbridge Enterprises has acquired Tower 600 at Detroit's Renaissance Center for $9.4 million, with plans to maintain office operations while converting portions into luxury residential suites.
The 336,000-square-foot, 21-story tower at 600 Renaissance Center was sold via auction at approximately $28 per square foot. The property was just 11% occupied at the time of sale, with the Canadian Consulate occupying the 11th floor and the Detroit Riverfront Conservatory on the 17th floor.
Blue Cross Blue Shield previously occupied the building but consolidated operations into the adjacent Tower 500 in 2023, leaving significant vacant space.
The buyer, a venture led by Stockbridge Enterprises with several undisclosed investors, plans to operate most of the building as office space while transforming part of the tower into high-end residential units ranging from 4,000 to 8,500 square feet. The residential conversion is expected to begin in 2026 or 2027, dependent on planning and permitting.
Tower 600, also known as River East, was built in 1980 and renovated in 2005. It features numerous amenities including a food court, fitness center, conference facilities, banking, and waterfront access.
Stockbridge Enterprises itself will occupy space in the building. The World Peace Association, a nonprofit founded by Dr. Mahmoud Al-Hadidi, principal of Stockbridge Enterprises, will continue to occupy its current space but will not be affiliated with the Tower 600 project.
The buyer cited the opportunity to acquire a trophy asset and participate in downtown Detroit's continued revitalization as key motivations for the purchase.
For the record
Steven Silverman, Jared Friedman, Jordan Friedman, and Ryan Wilner of Friedman Real Estate represented the seller in the transaction.