What was once Detroit’s tallest building is up for sale.
The Ford Building, located at 615 Griswold St. at West Congress Street, does not have a disclosed asking price. It’s been on the market about a month, with the Southfield office of Dallas-based commercial real estate giant CBRE Inc. handling the listing and marketing.
It has changed hands a few times in the last few years, most recently selling to real estate investor and restauranteur Zaid Elia and developer Matthew Shiffman, both based in Birmingham, for $16.35 million in the summer 2017. They could not be reached for comment Friday.
That sale was less than six months after Detroit-based The Sterling Group bought it from the Paglia family $12 million in February 2017. That sale was contentious, with the parties arguing in court for over a year and, at one point, workers hired by Paglia removing building signage while attorneys met to discuss the case before the the sale was finalized.
Today, the 19-story building is home to a potpourri of small professional offices, the largest of which is less than 10,000 square feet, according to CoStar Group Inc., a Washington, D.C.-based real estate information service. Many tenants are law firms.
In all, it clocks in at about 241,800 square feet and is 64.6% leased, according to CoStar. The average rent is $24 per square foot, per year.
The building opened in 1908, according to Historic Detroit, a website that tracks Detroit real estate and architectural history. At the time it was built, it was the tallest in the city; and was reportedly declared as the “first real skyscraper” by the Detroit Free Press.
The Ford Building has no connection to the family that started Dearborn-based Ford Motor Co., but instead takes its name from the Edward Ford Plate Glass Co., according to Historic Detroit.
It was designed by architect Daniel H. Burnham, who also designed the famed Flatiron Building in New York City.
For nearly seven decades, it had been home to the downtown location of the storied Sanders ice cream and chocolate shop, which shuttered for good in the early 1990s, according to Historic Detroit.