Detroit's iconic Fisher Building is for sale once again.
The historic 29-story Fisher, opened in 1928 in the city's New Center area, has been owned since 2015 by a partnership whose current members include majority-owner HFZ, based in New York City, Detroit-based The Platform and Rheal Capital Management.
The group announced Tuesday that the Art Deco masterpiece is now available. There is no asking price.
The Fisher has received $30 million in renovations and upgrades in recent years and is about 70% leased, up from 40% when the ownership group purchased it.
The building was designed by architect Albert Kahn and is known as "Detroit's Largest Art Object." It is designated a National Historic Landmark.
The ownership group paid $12.5 million for the Fisher in a package deal that included the nearby Albert Kahn Building, a parking garage and two surface parking lots. The Albert Kahn Building later was sold for $9.5 million in 2018 and recently reopened as upscale apartments.
"We are proud of the work that we have performed to preserve this important piece of Detroit's history," Peter Cummings, executive chairman and CEO of The Platform, said in a statement. "We have made significant investments to reposition this property as a first-class office building and community gathering space and have overseen a substantial increase in office and retail occupancy. As such, we feel the time is right to find the Fisher's next steward."
