Detroit, Michigan (December 27, 2023) – Friedman Real Estate and Blue Cross Blue Shield of Michigan are pleased to announce the execution of a long-term lease* in the iconic 500 River East Tower that is mutually beneficial to both parties and reaffirms Blue Cross’s long-term commitment to downtown Detroit.
“The new lease arrangement extends our lease as the sole tenant for 500 River East Tower, which is the base for several major Blue Cross divisions,” said Sandy Alston-Childs, vice president, Corporate Services for Blue Cross. “It reflects our unwavering commitment to downtown Detroit, where we have been a member of the business community for more than 80 years.”
The 500 River East Tower has been part of the Blue Cross downtown campus since 2011 and is in close proximity to other Blue Cross and Blue Care Network facilities located on East Lafayette and Jefferson Avenue.
“This new arrangement gives us greater adaptability when we need to make business changes that affect the ebb and flow of employees at our downtown Detroit campus facilities,” said Alston-Childs.
The agreement opens up an enormous opportunity for Friedman Real Estate to plan for the future as it makes the highly coveted 600 River East Tower available to prospective corporate users. This rare opportunity will provide businesses with a premier location boasting a high-profile tower, stunning riverfront views, on-site parking, and access to the rich amenities that the Renaissance Center and the city of Detroit have to offer.
“Since the construction of 500 & 600 River East Towers, it has been the chosen home for prominent corporate tenants. We are excited to present a significant and rare opportunity to the market for a corporation to make 600 River East Tower a space of their own,” said David Friedman of Friedman Real Estate.
About Blue Cross Blue Shield of Michigan
Blue Cross Blue Shield of Michigan, a nonprofit mutual insurance company, provides health benefits to nearly 5.2 million members. The company is committed to delivering affordable health care products through a broad variety of plans for businesses and individuals. Based in Detroit since 1939, BCBSM supports impactful community initiatives and provides leadership in improving health care across Michigan. BCBSM is an independent licensee of the Blue Cross and Blue Shield Association. For more information, visit bcbsm.com and MiBluePerspectives.com.
