Table tennis club, Greek restaurant among new tenants at Penobscot Building

Posted on February 28, 2014

The Penobscot Building’s new owners have signed four new tenants, including the return of a former law firm tenant and a new Greek restaurant.

The tenants recently inked leases with owners Toronto-based Triple Properties Inc. in the 1.25 million-square-foot building in downtown Detroit.

  • Southfield-based Pendeli Inc. leased 4,000 square feet on the first floor of the building to open a second location for its Athens Souvlaki Greek restaurant. Athens will be located at the Fort Street entrance of the building, said Steve Apostolopoulos, managing director of Triple Properties. The restaurant is to open this month.
  • CDM Smith of Michigan LLC leased more than 5,000 square feet of space on the 37th floor. The subsidiary of Cambridge, Mass.-based CDM Smith Inc. consolidated its offices in Ann Arbor and Detroit into the Penobscot. The engineering, construction and consulting firm moved into the space at the end of February and its lease extends until April 2019.
  • Detroit-based table tennis social club Drive Detroit LLC leased 4,000 square feet of ground floor space. The space, opening this month, will offer table tennis rentals and a bar that will serve appetizers. The group is also moving its headquarters into the building from a space on Woodward Avenue.
  • Law firm Simon, Stella and Zingas PC returned to the Penobscot Building last month by leasing more than 5,000 square feet on the 34th floor. The Penobscot was the firm’s original home more than 30 years ago, before it moved out in the early 2000s.

The Penobscot is 45 percent occupied with more than 1,000 tenants, Apostolopoulos said.

Triple Properties acquired the Penobscot Building in April 2012 for $5 million in cash. It also has retail, office and entertainment developments in Toronto, Chicago and New York.