Detroit area doctor's investment group buys RenCen tower for $9.2M

DETROIT (FOX 2) - One of the Detroit Renaissance Center’s smaller towers has been sold and the new owner has big plans, including turning part of the office building into luxury apartments.

"We’re committed to the City of Detroit and I think this is going to be a great project," said Dr. Mahmoud Al-Hadidi.

The backstory:

Tower 600 is one of the two smaller office buildings flanking the original five towers was sold to Al-Hadidi.  The $9.2 million winning bid came from his Stockbridge Enterprises, a group led by the pulmonologist.

Friedman Real Estate says their auction attracted 12 bidders indicating optimism for the city.

"There’s a strong commitment to the city there’s a strong appetite for Class A office buildings - especially in an iconic location," said Jared Friedman, Co-CEO Friedman Real Estate. "I’m excited for the future of that building and I'm excited for the future of Detroit."

Al-Hadidi wants to move Stockbridge Enterprises into the space and add some luxury residential units, promising large, high-end apartments on select floors.

"It is an amazing location and it's a beautiful view," he said. "The Riverwalk is very nice the way it is. I went to residency and fellowship at Wayne State University since I was young. This is an icon in the city and I think the potential is great for the city of Detroit."

The entire Renaissance Center faces a turning point. General Motors and Bedrock are working with city and county leaders, which formed a coalition to re-imagine it.

"It will only affect us positively if they move on with their plans," said Al-Hadidi. "It will make the Riverwalk even better and it will make the area safer and more attractive for people to come."