Gilbert's latest acquisition

**hybridy** · March-14-16, 09:41 AM

Former PwC building near half-built jail downtown under contract to Gilbert, sources say.

"One of PwC’s concerns about the Madison Office Building was about the jail development across the street along Gratiot Avenue"

http://www.crainsdetroit.com/article...er-contract-to

maybe all the QL smokers can move over there...

**Danny** · March-14-16, 11:42 AM

Yes Gilbert, buy that PwC Building and while you at it, buy that half built Wayne County Jail Building,too. Make Gilberttown grow.

**southen** · March-14-16, 11:49 AM

Seems like an odd purchase for him. It is pretty disconnected outside of having access to Ford Field. Hopefully it is part of a bigger play in that part of town.

**401don** · March-14-16, 12:05 PM

Never understood how the cost of new construction for that building made more sense than building out space in the Ford Field warehouse.

**1953** · March-14-16, 12:49 PM

That building looks like it belongs in Auburn Hills. Kind of an odd location, too.

Good luck, Mr. Gilbert.

1953

**hybridy** · March-14-16, 01:08 PM

Originally Posted by southen

Seems like an odd purchase for him. It is pretty disconnected outside of having access to Ford Field. Hopefully it is part of a bigger play in that part of town.

i suspect this is why:

"Direct Access to a 1,200 Car Parking Deck"
http://files.catylist.com/files/prop...roit_Flyer.pdf

**DansTheMan** · March-14-16, 02:25 PM

With only about 200,000 sq ft available between all Bedrock buildings that aren't a year away from being completley renovated. [[Book building, Dave Stotts). This one is move in ready.

**southen** · March-14-16, 02:56 PM

Originally Posted by hybridy

i suspect this is why:

"Direct Access to a 1,200 Car Parking Deck"
http://files.catylist.com/files/prop...roit_Flyer.pdf

You are probably right on the money with that.

**Gannon** · March-14-16, 05:38 PM

Hybridy beat me to the punch...it is all about controlling the parking spaces.

I am quite sure he's got a whole division dedicated to cornering that market.

Wait for the legislative squeeze to make surface lots uneconomic in some way...unless he's able to make them all an offer they cannot refuse.

**Scottathew** · March-14-16, 06:24 PM

If he gets the jail site I could see him constructing an elevated pedestrian walkway to directly connect folks at Ford Field and Comerica to his Greektown businesses. It would be appealing to walk right over Madison and Gratiot.

**DansTheMan** · March-14-16, 06:55 PM

Originally Posted by Gannon

Hybridy beat me to the punch...it is all about controlling the parking spaces.

I am quite sure he's got a whole division dedicated to cornering that market.

Wait for the legislative squeeze to make surface lots uneconomic in some way...unless he's able to make them all an offer they cannot refuse.

The building does not come with the parking garage. Its next to the Ford field garage.

**Hypestyles** · March-14-16, 08:49 PM

why is the jail still in limbo?

**hybridy** · March-14-16, 09:33 PM

Originally Posted by DansTheMan

The building does not come with the parking garage. Its next to the Ford field garage.

I can't imagine Gilbert acquiring it without any parking. And isn't illitch gonna build a new garage over there anyway 😬

**DansTheMan** · March-14-16, 09:53 PM

Originally Posted by hybridy

I can't imagine Gilbert acquiring it without any parking. And isn't illitch gonna build a new garage over there anyway 

There is parking there, Gilbert just wont own the parking garage.

**Gannon** · March-15-16, 02:38 AM

Originally Posted by DansTheMan

There is parking there, Gilbert just wont own the parking garage.

But the sales brochure talks about 1200 spaces, could they be tied to some long-term lease arrangement that keeps them from being available to anyone else? Those cannot be advertised without binding legal access to them, surely.

He might not own them, but he'll lust after control of them in order to manipulate the market price. Anything to keep the basic rates high enough to pay off that Z-lot construction cost amortization...like I said, there is overwhelming evidence that some covert scheme is being acted out downtown. Parking is a racket...it only makes sense that the godfather of leveraging land would want in on it.

Cheers

**MikeyinBrooklyn** · March-15-16, 02:45 AM

Originally Posted by Danny

Yes Gilbert, buy that PwC Building and while you at it, buy that half built Wayne County Jail Building,too. Make Gilberttown grow.

I'd love him to take over the jail site, too. Unfortunately, that is in government hands. The best short term answer for the county [[fiscally speaking) is to finish the jail. I still think it is foolish to put any new jails in a downtown trying to rebound [[hey, let's remind visitors, investors and potential residents of our crime problem with a big, ugly new jail downtown!). But Warren Evans needs to demonstrate some fiscal sanity, even at the expense of a markedly improved downtown. Who would make that plot of land more valuable to both the city and the county? Gilbert, hands down. But will DG fork over several hundred million for it that would allow the county to do the jail elsewhere? Doubtful. A hallmark of all the DG investments so far downtown is that they are sound business decisions. That wouldn't be one, if he paid the county what it needs to be paid for that land. The only hope, I reckon, is if the county decided it could not afford any jail plan, and just sold the sorry scrap heap to the highest bidder, likely Gilbert. But the county has said it needs the jail, and the fail jail's completion has been deemed cheaper [[at this point) than a move to Mound Road. It's funny how the county has been wildly imprudent on financial matters for ages, but the one instance where the pricier decision would be beneficial will not likely happen. We will be paying for Ficano's severe, corrupt negligence for years, maybe generations with a terribly expensive jail blotting an otherwise growing downtown.

PS At this point I put no blame on Warren Evans. Every possible decision on this project is a bad one.

**tkelly1986** · March-15-16, 12:30 PM

There is a write up in Crains today that the building will be 100% occupied by summer.

http://www.crainsdetroit.com/article...s-from-stalled

This gets one thinking - who could the new tenet be? If we base 96,000 square feet of rough 175 square feet per person [[which some companies use to measure space), that would be just north of 500 employees. Any guesses?

**hybridy** · March-15-16, 02:29 PM

Originally Posted by tkelly1986

There is a write up in Crains today that the building will be 100% occupied by summer.

http://www.crainsdetroit.com/article...s-from-stalled

This gets one thinking - who could the new tenet be? If we base 96,000 square feet of rough 175 square feet per person [[which some companies use to measure space), that would be just north of 500 employees. Any guesses?

Rocketmortgage!