Gilbert purchases Book Tower, Book Building from Milan-based Akno Enterprises

"@@Dan Gilbert has purchased another 517,000 square feet of space@@ in downtown Detroit by way of the historic Book Tower and Book Building, as well as a nearby two-story community center.

His Bedrock Real Estate Services LLC announced Friday that the buildings will be turned into “a game-changing, mixed-use development that will bring jobs, energy and new life to these properties while expanding revitalization efforts further west of Woodward Avenue to Washington Boulevard.”

The Book Tower, at 1265 Washington, is 241,000 square feet and the Book Building, at 1249 Washington, is 246,000 square feet. They were owned by Milan, Italy-based Akno Enterprises, which purchased them in 2006 for $4 million, according to CoStar Group Inc., a Washington, D.C.-based real estate information service."

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