BBG, a leading national commercial real estate valuation, advisory and assessment firm, announced that its Michigan office has relocated to the Brush Park historical district in Detroit, where many commercial and residential real estate projects are dramatically transforming the city’s urban landscape.
The BBG office, located at 42 Watson Street, is housed in a two-story, 9000-square foot building, once and the site of a 100-year-old former vintage auto garage. BBG and the building’s other tenants will create about 100 jobs. With the move from the city’s western suburbs to its new urban location, BBG will be the first national commercial real estate valuation firm in the city’s Midtown District. The building will also be a hub for real estate-oriented businesses. In addition to BBG, the other tenants sharing the building include two other commercial real estate companies, a company release said.
“BBG had chosen the Brush Park district for its new location because the office has played an active role in the city’s current redevelopment initiatives. BBG conducts a significant amount of business in the city, which has included work on millions of square feet of office space, thousands of multi-family units and other commercial real estate buildings,” BBG Senior Managing Director Marc Nassif said in the release.
The building’s location, the company said, also appeals to BBG clients and employees because of its proximity to sports arenas, theaters, nightclubs, and the city’s other entertainment and cultural venues and retail stores, Nassif said. The 22-block Brush Park district is also known for its 19th-century Victorian mansions that were once the homes of some of the city’s elite.
“Our strategic move to Midtown reinforces our ongoing commitment to become part of the continuing redevelopment of Detroit. As the first national real estate valuation firm to locate to this area and an early participant in the city’s revitalization, we look forward to providing our clients and employees with an attractive workplace situated in an increasingly vibrant urban environment. Our redevelopment of this building uniquely positions us to understand the challenges and opportunities in Detroit,” Nassif said.