Major Development Opportunity Opens in Detroit’s Eastern Market

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Firm Real Estate lists 22 properties — a mix of historic commercial buildings, vacant parcels and mixed-use spaces — aimed at attracting new investment while preserving the district’s identity.

DETROIT (Sep.  2025) – Firm Real Estate, a Detroit-based residential and commercial real estate development company of which Donald Foss, founder and former CEO of Credit Acceptance Corp. was instrumental in supporting, today announced plans to sell 21 properties in Detroit’s Eastern Market district. The sale marks a significant moment in the evolution of one of Detroit’s most iconic neighborhoods and opens the door to one of the most substantial development opportunities the district has seen in decades.

The portfolio of properties now for sale spans 10.4 acres and totals more than 430,000 square feet of space,

including a mix of historic commercial and mixed-use spaces, vacant parcels, and parking lots, representing one of the most visible and impactful sets of properties in Eastern Market.

Firm Real Estate has invested roughly $8 million in upgrades and maintenance since 2017, creating a mix of occupancy-ready and redevelopment-ready spaces while maintaining historic properties.

“As a company, we decided that these properties were no longer consistent with our future strategic business plan,” said Jeff Bartlett of Firm Real Estate. “We realized that it was important to sell these properties so they can be put back into circulation. Many of these buildings already have successful businesses and are occupied, and others have tremendous potential to be strong assets to the district’s growth. We want to ensure these properties are in the hands of new owners who have the capacity, expertise and passion to steward them to productive use.”

Firm Real Estate began acquiring properties in Detroit’s Eastern Market in 2017,

gradually assembling a significant footprint in the district. Among the company’s most high-profile holdings are some prominent occupied buildings along Russel Street, directly across from the Market sheds, along with major parcels such as the 60,000-square-foot Adelaide Cut properties, and several properties on the adjacent Gratiot commercial corridor.

“Our priority has always been ensuring new development aligns with the goals of Eastern Market Corporation — supporting small food businesses, expanding cultural spaces, and investing in improvements to the public market — while preserving the district’s authenticity and stimulating inclusive economic growth.” said Katy Trudeau, CEO of Eastern Market Corporation. “Activation of this portfolio provides just that type of opportunity for the neighborhood.”

O’Connor Real Estate, a Detroit-based brokerage, is handling the listings for individual properties. For a detailed property list, including addresses and specifications, please visit http://www.oconnordetroit.com/easternmarket

Portfolio Overview

• Total Properties: 21

• Total Building Square Footage: 450,880 sq. ft.

• Total Land Area: 10.4 acres

• Average Building Size: ~25,000 sq. ft.

• Average Parcel Size: ~0.43 acres

• Availability: Properties may be sold as a single portfolio or individually, depending on buyer interest.

Property Breakdown

• Commercial / Mixed-Use Buildings: 17

• Vacant Land / Lots: 3

• Parking Lots: 1

Occupancy

Several properties are fully or partially occupied, including:

• 2453 Russell (residential + 5 businesses)

• 1468 Adelaide (2 businesses)

• 1515–1525 Division (3 businesses)

• Gratiot Service Properties (4 buildings, 100% occupied)

• 2510 Market (100% occupied)

• Adelaide Cut North (100% occupied, 60,000 sq. ft. on 1.5 acres)

About Firm Real Estate

Firm Real Estate is a Detroit-based residential and commercial real estate development company dedicated to being a strong community partner and preserving the city’s unique identity. The real estate company was founded in 2017 by a group of investors including Donald Foss, who also was founder and CEO of Credit Acceptance Corp, one of the nation’s largest subprime auto lenders.

The Foss family owned 50% of Firm Real Estate until January 1, 2025, when Firm Real Estate became fully owned and operated by the Foss family. Today, they oversee a diverse portfolio of properties in Detroit.