Birmingham-based development company Broder & Sachse has acquired Orchestra Place in Detroit’s Midtown district. Located at 3663 Woodward Ave., the five-story, Class A building was owned by the Detroit Symphony Orchestra, which is housed in Orchestra Hall one block north on Woodward.
For Broder & Sachse, the deal expands the company’s portfolio in Midtown, which includes mixed-use and multi-family properties like The Scott at Brush Park and 40 Davenport, as well as in downtown Detroit. Terms of the deal were not disclosed.
“Broder & Sachse has been heavily invested in this particular neighborhood through our other properties in the area, and this building is terrific real estate in an area we see value and opportunity,” says Richard Broder, CEO of Broder & Sachse.
“The potential to do more for the community in this particular stretch of Woodward Avenue will eventually translate into even more enthusiasm for people who live and work in this area, and we’re thrilled at the prospect made possible by our purchase of Orchestra Place.”
Current tenants include the Detroit Medical Center, Harbor Health Plan, and Huntington Bank. The building is also home to the University of Michigan Detroit Center, which includes the Michigan Engineering Zone where students can explore the STEM fields through hands-on experiences.
More information about Broder & Sachse’s developments can be found here.