DETROIT — Downtown Detroit’s First National Building became home to another 500 professionals this week as Title Source, the largest independent provider of title insurance, property valuations, and settlement services in the nation, made the first move in a series to bring all 1,500 of its Michigan-based team members to downtown Detroit’s burgeoning Central Business District.
During a press conference held in the shadow of the First National Building in Cadillac Square, Title Source President Jeff Eisenshtadt Wednesday announced that when fully moved in, the company will occupy more than 330,000 square feet across 10 floors, or more than 40 percent, of the historic building. Title Source’s move will put a total of more than 6,500 of Rock Ventures companies’ new economy-based team members along the Woodward technology corridor near Campus Martius.
Eisenshtadt expects all Title Source team members to be moved in within six months. “We have been watching all of the great things going on in Detroit and are very eager to contribute to the turnaround of a great American city. We can’t wait to explore all of what downtown has to offer.”
Title Source is a Rock Ventures LLC company. Rock Ventures, the umbrella entity formed to provide operational coordination, guidance and integration of Detroit businessman Dan Gilbert’s portfolio of companies, investments, and real estate, acquired the First National Building in August 2011.
The 25-story, 800,000 square-foot, Albert Kahn-designed building was constructed in 1930 and snakes through an entire city block. In the past six months, it has undergone extensive renovations while maintaining the elegant historical features of the original design.
Dan Gilbert, Chairman of Rock Ventures and Quicken Loans, said that the exciting move is part of “a transformational time for Detroit … Just as exciting is the number of supporting businesses that are opening up in the downtown area to serve the needs of the growing ranks of those who work here. It is a fantastic time to be an entrepreneur in Detroit.”
Title Source has provided settlement services to Quicken Loans (previously Rock Financial) since 1997 and has more than doubled its number of team members in the past year alone.
By early 2013, the number of Rock Ventures team members working in downtown Detroit will surpass 6,500. Rock Ventures’ mission to relocate all Michigan-based team members to Detroit started in August 2010 when Quicken Loans and five sister companies moved 1,700 people to the Compuware Building.