realestate

New Owner Unveils Plans for Tower 600 Renovation

Warren-based Stockbridge Enterprises wins Tower 600 auction with $9.2 million bid.

A
smaller tower in the Renaissance Center complex may soon be home to high-end apartments after being sold to an investor group led by Dr. Mahmoud Al-Hadidi, a Metro Detroit pulmonologist. Stockbridge Enterprises, Al-Hadidi's firm, purchased Tower 600 for $9.2 million in an auction last month. The sale closed with the final price higher due to closing costs and commissions.

    Al-Hadidi plans to keep most of the 334,000-square-foot building as office space while adding a few floors of luxury condominium apartments. This transformation could take two years to complete. He cites the tower's prime location, stunning views, and proximity to the Riverwalk as key factors in its potential success.

    Stockbridge Enterprises, which owns properties across the country, will relocate its Warren headquarters to Tower 600. The firm also has an office in Flint and is still determining how many employees will work from the new space. Al-Hadidi sees the move as a way to bring his team together under one roof.

    The city rezoned Tower 600 last year to allow for mixed-use development, including residential and retail spaces. At the time of the auction, the tower was mostly vacant, with only 11% occupancy. However, three tenants will remain in the building, at least for now. Al-Hadidi supports General Motors' proposal to renovate the Renaissance Center complex, which includes tearing down two towers and repurposing underutilized spaces.

    "It will make the area thrive," Al-Hadidi said of the proposed renovation plan. "It will make the area a destination... It's definitely going to help the city of Detroit, and it's going to help Michigan."

New owner reveals renovation plans for Tower 600 in downtown cityscape.