DETROIT-Chrysler Group LLC is leasing 33,000 square feet at the Dime Building here, in the automaker’s first office downtown since the automaker was formed in the 1920s. The 350,000-square-foot building will be renamed Chrysler House.

The 23-story building at 719 Griswold was built in 1912 by Dime Savings Bank and designed by famed Chicago architect Daniel Burnham. Rock Ventures LLC, run by businessman Dan Gilbert, purchased the building as part of its acquisition of 2.1 million square feet of offices and empty buildings downtown. Bedrock Real Estate Services, an affiliate of Rock, brokered the lease deal.

Chrysler will move about 70 employees into the building after the space is redone this summer for its Great Lakes Business Center. A Chrysler spokesman said in a statement that two floors will include an office and conference room for chairman and CEO Sergio Marchionne. “The future of Chrysler Group and the city of Detroit are inextricably tied,” he said in a separate statement. “In order to reflect this, we want to go beyond spiritual or symbolic evidence of our faith in the city’s future by establishing a physical presence people can see and be proud of.”

Chrysler is based in Auburn Hills, about 30 miles north of downtown Detroit. The company, which has a strategic alliance with Fiat, does have manufacturing plants within the Detroit borders, including the Jefferson North Assembly Plant, Mack Avenue Engine plants and Conner Avenue Assembly Plant.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.