Michigan-based Title Source, a national provider of title insurance, property valuation and settlement services, made a big splash this week, announcing a move to downtown Detroit that will involve all 1,500 of its employees.
Title Source President Jeff Eisenshtadt said that the company, when fully moved in, will occupy more than 330,000 square feet across 10 floors, or more than 40 percent, of Downtown Detroit’s First National Building, in the burgeoning Central Business District. All of the company’s employees should be moved in within six months.
“Our team members are extremely excited to move to downtown Detroit, particularly the First National Building, which is just steps from Campus Martius Park,” Eisenshtadt said. “We have been watching all of the great things going on in Detroit and are very eager to contribute to the turnaround of a great American city. We can’t wait to explore all of what downtown has to offer.”
Title Source is a Rock Ventures LLC company. Rock Ventures is the umbrella entity formed to provide operational coordination, guidance and integration of Detroit businessman Dan Gilbert’s portfolio of companies, investments and real estate. The company acquired the First National Building in August 2011.
Title Source’s move brings the occupancy rate of the First National Building to 93 percent.
“It is a transformational time for Detroit as we add 1,500 enthusiastic new team members to downtown’s growing technology and entrepreneurial district,” said Gilbert, chairman of Rock Ventures and Quicken Loans. “Just as exciting is the number of supporting businesses that are opening up in the downtown area to serve the needs of the growing ranks of those who work here. It is a fantastic time to be an entrepreneur in Detroit.”
Title Source has provided settlement services to Quicken Loans (previously Rock Financial) since 1997 and has more than doubled its number of team members in the past year alone.