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Bedrock Finalizes $56.5 Million Purchase of Iconic Avenue Shops at Tower City Center in Downtown Cleveland

Dan Gilbert's Detroit Firm Continuing to Carve Out Substantial Presence in City's CBD Following Acquisition of 366,000-SF Shopping Destination
By Ella Anderson
March 23, 2016 | 8:45 P.M.

Bedrock Real Estate Services, a Detroit-based commercial real estate investment firm led by founding partner and Cleveland Cavaliers majority owner Dan Gilbert, acquired The Avenue Shops at Town City Center at 230 W. Huron Rd. in Cleveland, OH from Forest City Enterprises (NYSE: FCEA and FCEB) for $56.5 million, or about $154 per square foot, according to a Forest City press release.

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