Huntington National Bank's Detroit headquarters building has a new owner

A Florida-based real estate investment firm said Thursday it has purchased the building containing one of the headquarters for Huntington National Bank in downtown Detroit.

The Columbus-based bank is a tenant of the 421,481-square-foot tower that opened at 2025 Woodward in September. The Herrick Company said it purchased the building for $150 million and that the bank is on a long-term, triple net lease.

"In real estate, there are few investment opportunities as desirable as properties that are leased on a triple net basis by creditworthy tenants such as Huntington Bank," Norton Herrick, chairman of The Herrick Company, said in a statement Thursday. "As we actively seek out additional investment opportunities that fit our requirements, we're intently focused on acquiring this type of stable, low-management-intensive property in the retail, industrial and office sectors."

A previous owner of the recently constructed building is GPC Adams LLC, an affiliate of Detroit-based real-estate firm Sterling Group.

The building’s construction took place amid a series of bank mergers. It's initial intended occupant, Midland-based Chemical Financial Corp., merged with TCF Financial Corp., which later merged with Huntington Bancshares Inc. The entity known as Huntington National Bank emerged as a result.

Huntington also has a headquarters in Columbus, Ohio.