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Development News

Blue Cross Blue Shield in talks to purchase Detroit Cornice and Slate Building

Blue Cross Blue Shield is finalizing plans to acquire the Detroit Cornice and Slate Building at 733 St. Antoine St. at E. Lafayette St.
 
Helen Stojic, director of Blue Cross Blue Shield Michigan, confirms that they are currently in talks to purchase the building, best known as the offices of local alternative weekly the Metro Times. Metro Times publisher Chris Sexson confirmed that the publication is actively looking for a new headquarters, though it has not yet made any definitive plans.

The building is also home to Paxahau, the company that produces the Movement Festival and other events in the city.
 
The 24,000-square-foot building is conveniently located right next to BCBS's Bricktown customer service facility and would expand the existing BCBS campus in Greektown. Their plan is to convert the second and third floors to office space for existing BCBS employees (about 100 employees total). The first floor would maintain its current lease to Flood's Bar & Grille.
 
Though she could not disclose the purchase price, Stojic says that it is consistent with market value. She expects the deal to close within the next month. BCBS has not yet made a determination regarding building renovations (they will once they officially acquire the property), but they hope to begin occupancy in 2014.
 
Source: Helen Stojic, Director of Blue Cross Blue Shield Michigan
Writer: Nicole Rupersburg

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