Another major downtown Detroit skyscraper has been sold, and -- surprise! -- the buyer was not Dan Gilbert.
Triple Properties, the Toronto-based real estate firm that already owns the Silverdome in Pontiac, bought downtown's historic Penobscot Building last week for a price estimated to be in the $5-million range.
The seller was Capmark, an investment firm that obtained the title to the Penobscot in a foreclosure action against the former owner, the Northern Group.
BEFORE YOU GO
Flickr photo by PunkToad.