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Bedrock Real Estate Services Close to Bringing Papa Joe’s Market Downtown

-Popular grocer to take space in First National Building-

DETROIT, March 28, 2013 – Bedrock Real Estate Services today announced it is finalizing plans to bring the popular grocer Papa Joe’s Gourmet Market and Catering to the Rock Ventures-owned First National Building, steps from Campus Martius Park in downtown Detroit.

Papa Joe’s would occupy approximately 15,000 square feet of first floor space adjacent to the Roasting Plant in the building. While meeting the growing demand for a downtown grocer, the new market is also expected to create 80 new jobs.

“This is a historic opportunity to be on the ground floor of my hometown’s retail revitalization,” said Papa Joe’s Founder Tony Curtis. “As a grocer, it is a point of pride to bring healthy, fresh groceries and specialty foods back to downtown.”

According to Curtis, the concept for the new store is a little different than the typical Papa Joe’s. In addition to everything available at Papa Joe’s suburban locations, the downtown location will also include delivery and table service for gourmet pizza, pasta, Thai food, sushi as well as a full liquor license. A native Detroiter, Curtis opened his first store in 1971 at 10 Mile and Schoenherr in Warren and currently has locations in Birmingham and Rochester Hills.

“Papa Joe’s expansion to Detroit will be welcome news to downtown foodies, residents and workers alike who have long lamented the lack of a downtown grocery store,” said Dan Mullen, Bedrock’s Vice President of Real Estate Development, Rock Ventures’ full-service real estate firm specializing in purchasing, leasing, financing, developing and managing of commercial space.

“This will be an expansion of Papa Joe’s tried and true concept of offering fresh produce, meat, and seafood as well as gourmet prepared foods and catering that has devoted fans already in metro Detroit,” said Mullen.

Papa Joe’s would be both a destination and an important connecter to other revitalization and placemaking efforts in Campus Martius, Cadillac Square and Lower Woodward. Final details and renderings of the space are still in process but are expected to include retail and restaurant space plus seasonal outdoor café seating that is visibly and physically connected to other activities planned for Cadillac Square. The goal is to open late this year or early in 2014, assuming all the retail, layout and financing details are agreed upon.

“We are thrilled with the opportunity to be the first truly downtown grocer in years. My head is full of ideas of how to serve people with great products and services in an inviting space with great indoor and outdoor flow,” added Curtis.

More information about Papa Joe’s Markets is available at www.papajoesmarket.com.

Papa Joe's

About Bedrock Real Estate Services LLC

Detroit-based Bedrock Real Estate Services LLC is a full service real estate firm specializing in purchasing, leasing, financing, developing and managing of commercial space. For more information, visit www.bedrockmgt.com.

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Rock Ventures Wraps Up 2012 with Purchase of Five Downtown Properties

- The group’s Detroit real estate portfolio grows to 15 buildings in the
emerging technology corridor -

DETROIT, December 18, 2012 – Rock Ventures today announced the purchase of five additional properties, wrapping up a year in which it acquired eight buildings totaling 630,000 square feet of commercial space.

The newest acquisitions bring Rock Ventures’ downtown Detroit real estate investments to 15 buildings totaling 2.6 million square feet of commercial space, and three parking structures for a combined 3,500 parking spaces.

In addition, Rock Ventures broke ground on a 33,000 square-foot specialty retail development and 10-story parking garage last month, renovated 633,000 square feet of commercial space, and located 45 companies to the city, including Twitter, Chrysler, Metro-West Appraisal, and numerous technology related start-ups. Rock Ventures’ family of companies, including Quicken Loans and Title Source, has brought 7,000-plus people to work in downtown Detroit since August 2010.

“It has been an exciting year of opportunity in Detroit,” said Dan Gilbert, Founder and Chairman of Rock Ventures and Quicken Loans. “Our focus in 2013 will be on the three R’s – residential, rail and retail – all of which are vital in creating the vibrant, thriving urban core that we all envision.”

Rock Ventures’ newest building acquisitions include:

  • 1201 Woodward – Kresge Building: The 54,000 square-foot property built in 1891 was home to the former Kresge store. The nine-story building, located on the northwest corner of Woodward Avenue and State Street, will be renovated to accommodate first floor retail and either office or residential space above. A portion of the first floor currently houses The Detroit Shoppe and Detroit Artist Market pop-up stores.
  • 1217 Woodward: This five-story 30,000 square-foot building is located on the west side of Woodward Avenue, immediately north of the Kresge Building. Built in 1891, the building will be renovated and used for first floor retail and either office or residential space above. A portion of the first floor currently houses Santa’s Wonderland, a seasonal store specifically for children with proceeds benefitting Detroit Goodfellows, ensuring there is “No Kiddie without a Christmas.”
  • 1412 Woodward: Located on the east side of Woodward Avenue between Grand River Avenue and John R Street, this three-story building was built in 1916. The 6,000 square-foot building is currently unoccupied, but will feature first floor retail with office space above.
  • 1301 Broadway – Cary Building Lofts: The 20,000 square-foot building, built in 1906, is located on the west corner of Gratiot Avenue and Broadway Street. The five-story structure will undergo extensive renovations to accommodate first floor retail space with residential space above.
  • 1521 Broadway – Small Plates Building: The 9,300 square-foot building is 100 percent occupied by Small Plates restaurant on the first floor with four residential loft apartments above. The five-story building is located on the west side of Broadway Street between John R and Witherell Street.

The building purchases were brokered by Bedrock Real Estate Services, Rock Ventures’ full-service real estate firm. Bedrock leases, develops and manages all of Rock Ventures’ buildings, and has helped locate more than 65 companies to downtown Detroit since August 2010.

“The need for retail and updated office and residential space in downtown Detroit is keeping Bedrock extremely busy,” said Jim Ketai, Managing Partner at Bedrock, adding that the firm has grown by nearly 60 percent in the past year to keep up with the demand.”

For more information about Bedrock Real Estate Services, please visit www.bedrockmgt.com.

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About Rock Ventures LLC
Rock Ventures LLC is an umbrella entity formed to provide operational coordination, guidance, and integration of Dan Gilbert’s portfolio of companies, investments and real estate. Rock Ventures’ flagship company is Quicken Loans, the nation’s largest online home lender and fourth largest retail lender.

About Bedrock Real Estate Services LLC
Bedrock Real Estate Services LLC is a full service real estate firm specializing in purchasing, leasing, financing, developing and managing of commercial space. The company, a partnership between Quicken Loans Founder and Chairman Dan Gilbert and veteran real estate developer Jim Ketai, is based in downtown Detroit. For more information, visit bedrockmgt.com.

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Rock Ventures Continues Investment in Downtown Detroit with Purchase of One Woodward Building

- Purchase brings total real estate holdings in downtown Detroit to nearly 2.5 million commercial square feet -

DETROIT, December 3, 2012 –  Rock Ventures, the umbrella entity providing operational coordination of Dan Gilbert’s portfolio of companies and investments, today announced it has added another 333,000 square feet of class-A downtown Detroit office space to its growing real estate portfolio.

The company completed the purchase of the 26-story One Woodward building, located on the corner of Jefferson and Woodward Avenue. Rock Ventures plans to renovate the building in order to accommodate the growing demand for space in the city’s emerging technology district.

Built in 1962, One Woodward was designed by famed architect Minoru Yamasaki, and is considered an early design that ultimately led Yamaski to create the former World Trade Center towers in New York City.

“The One Woodward building is located in the heart of Detroit’s technology core, and provides us more space to further accommodate our growing family of companies and the increasing number of businesses that want to leverage the opportunities made in Detroit,” said Dan Gilbert, Founder and Chairman of Rock Ventures and Quicken Loans.

“We continue to bet big on Detroit, and this purchase reinforces our commitment to the exciting entrepreneurial action on Woodward Avenue,” Gilbert added.

The building is approximately 60 percent occupied, and will exceed 90 percent occupancy next month when Quicken Loans and its affiliates lease a total of eight floors in the building.  Some current tenants include the Detroit Regional Chamber and law firms Fraser Trebilcock Davis & Dunlap, and Kitch Drutchas Wagner Valitutti & Sherbrook.

Purchase of the One Woodward building was co-brokered by Friedman Integrated Real Estate Solutions and Bedrock Real Estate Services LLC, Rock Ventures’ full-service real estate firm and developer for the project. Bedrock will also be responsible for overseeing the renovations, managing the property and leasing the space.

Since January 2011, Rock Ventures has purchased 10 buildings totaling nearly 2.5 million square feet of office space, in addition to two parking garages with a total of 3,500 parking spaces.  Last month, the company broke ground on a 33,000 square-foot specialty retail development with 10-story parking garage in downtown Detroit.

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About Rock Ventures LLC:
Rock Ventures LLC is an umbrella entity formed to provide operational coordination, guidance, and integration of Dan Gilbert’s portfolio of companies, investments and real estate. Rock Ventures’ flagship company is Quicken Loans, the nation’s largest online home lender and fourth largest retail lender.

About Bedrock Real Estate Services LLC:
Bedrock Real Estate Services LLC is a full-service real estate firm specializing in purchasing, leasing, financing, developing and managing of commercial space. The company, a partnership between Quicken Loans Founder and Chairman Dan Gilbert and veteran real estate developer Jim Ketai, is based in downtown Detroit. For more information, visit bedrockmgt.com.

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Rock Ventures to Break Ground on 33,000 Square Foot Specialty Retail Development with 10-Story Parking Garage in Downtown Detroit

DETROIT, November 1, 2012 — Rock Ventures LLC announced today it will build 33,000 square feet of ground floor retail space and a 1,300 space parking garage in downtown Detroit’s Central Business District.

Construction on the 535,000 square-foot Z-shaped retail and parking development will begin in November 2012, and is expected to be completed by December 2013. The structure will zigzag from the corner of Broadway and East Grand River to the corner of Library and Gratiot, occupying what is currently a surface parking lot. The parking/retail development will be a distinctive structure utilizing color, glass, and original artwork.

Rock Ventures is developing the property to help alleviate the area’s parking shortage in and around downtown Detroit’s Central Business District, and just as important, bring more unique retail and dining options to the area’s fast growing tech and creative corridor and employee base, said Dan Gilbert, Founder and Chairman of Rock Ventures and Quicken Loans.

“Downtown Detroit’s population is growing every day, as new start-ups launch and other companies move downtown. In two years alone, the number of people who work in the Central Business District has increased by more than 10,000 people. These folks need parking, and more places to eat and shop. Our new development will help meet some of this demand,” said Gilbert.

Rock Ventures, the umbrella entity providing operational coordination and integration of Dan Gilbert’s portfolio of companies, investments and real estate, has moved more than 6,500 team members into the Campus Martius area, many of whom will benefit from the added parking (some are currently being shuttled to their office, decreasing foot traffic vital to urban cores). Since August 2010, more than 60 companies have moved into or launched in Rock Ventures-owned buildings.

George Jackson, President, Detroit Economic Growth Corporation, said this kind of development is exactly what the city needs to continue its revival.

“More parking, more retail stores and more restaurants….all of these conveniences and services are part of what is required to create a thriving urban core that people want to live in and visit,” Jackson said. “We are very excited about this new development.”

Bedrock Real Estate Services LLC, Rock Ventures’ full-service real estate firm and developer for the project, will be responsible for managing the property and leasing the retail space. Bedrock is working with Michigan-based Neumann/Smith Architecture and parking consultants Rich and Associates Inc. to design the structure. Colasanti Construction Services Inc./Sachse Construction, a joint venture, are the construction managers for the project.

Renderings:
Z Parking structure – day rendering: LINK
Z Parking structure – night rendering: LINK

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About Rock Ventures LLC:
Rock Ventures LLC is an umbrella entity formed to provide operational coordination, guidance, and integration of Dan Gilbert’s portfolio of companies, investments and real estate. Rock Ventures’ flagship company is Quicken Loans, the nation’s largest online home lender and fourth largest retail lender.

About Bedrock Real Estate Services LLC:
Bedrock Real Estate Services LLC is a full service real estate firm specializing in purchasing, leasing, financing, developing and managing of commercial space. The company, a partnership between Quicken Loans Founder and Chairman Dan Gilbert and veteran real estate developer Jim Ketai, is based in downtown Detroit. For more information, visit http://www.bedrockmgt.com.

** Note to Editors:
Follow the links for the Rock Ventures Detroit 2.0 Chronology, followed by a listing of the more than 60 companies that have joined Rock Ventures in the past 26 months and have moved to downtown Detroit in a number of Rock Ventures-owned buildings.

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