BBG, a national commercial real estate valuation, advisory, and assessment firm in Dallas, today announced that its Michigan office in Livonia has relocated to the Brush Park historical district in Detroit. The company operates 25 offices across the nation.
The new office, located east of Woodward Avenue from Little Caesars Arena, is housed in a two-story, 9,000-square foot building at 42 Watson St. Once the site of a 100-year-old former vintage auto garage, BBG and the building’s other tenants will create about 100 jobs.
Company officials say BBG is the first national commercial real estate valuation firm in Midtown, which includes Brush Park. The building will also be occupied by other real estate-oriented businesses.
In addition, the Second Best Bar will occupy 2,300 square feet on the first floor. The interior of the bar and restaurant, which will seat about 60 customers, will feature exposed brick walls, booths, and garage doors. It will be operated by Four Man Ladder Management, which also owns the nearby Grey Ghost bar and restaurant.
Marc Nassif, senior managing director of BBG, says the company selected the Brush Park district for its new location because the office has played an active role in the city’s current redevelopment initiatives. BBG conducts a significant amount of business in the city, which has included work on millions of square feet of office space, thousands of multifamily units, and other commercial real estate buildings.
The building’s location also appeals to BBG clients and employees because of its proximity to sports arenas, theaters, nightclubs, and the city’s entertainment and cultural venues and retail stores. The 22-block Brush Park district is known for its late 19th-century Victorian mansions that were once the homes of the city’s affluent residents.
“Our strategic move to Midtown reinforces our ongoing commitment to become part of the continuing redevelopment of Detroit,” says Nasiff. “As the first national real estate valuation firm to locate to this area and an early participant in the city’s revitalization, we look forward to providing our clients and employees with an attractive workplace situated in an increasingly vibrant urban environment. Our redevelopment of this building uniquely positions us to understand the challenges and opportunities in Detroit.”