Nation’s largest online mortgage lender signs long-term lease in historic building

CLEVELAND, June 1, 2016 – Quicken Loans, the nation’s second largest retail mortgage lender, today announced a long-term lease to occupy 81,000 square feet of Cleveland’s historic Higbee Building, nearly doubling its footprint in downtown Cleveland. The company will relocate its 400-plus full-time Cleveland-based team members from the M.K. Ferguson building to the fourth and fifth floors of the Higbee Building in late June. In preparation for the move, the space is undergoing a $7 million renovation with the help of local contractors.

“Over the past 10 years, we have built a team of hard-working Clevelanders who are passionate about two things – delivering our clients the best mortgage experience possible and continuing the momentum taking place in downtown Cleveland,” said Jeff Perry, Vice President and Site Leader for Quicken Loans’ Cleveland office. “Our move to the Higbee Building will be big boosts to both of these objectives, allowing more room for our team to grow while contributing to the transformation of downtown Cleveland.”

The Quicken Loans Cleveland web center opened in 2006 with 50 team members from Detroit. It has since grown to a workforce of more than 400 team members, primarily consisting of Cleveland-area residents. The move to the Higbee Building will provide ample space for the growing team. Quicken Loans’ office in downtown Cleveland has also been named one of the city’s top workplaces for five consecutive years.

Quicken Loans’ presence in Cleveland has been pivotal to the company’s growth. The web center set the stage for Quicken Loans’ expansion, as its first web center outside of Michigan. The Cleveland-based team members also helped Quicken Loans become America’s largest FHA lender and the second largest mortgage lender overall.

The $7 million renovation is employing numerous local contractors. Paying tribute to the Cleveland landmark, the design of Quicken Loans’ space will include many architectural elements original to the building. In addition, a retail theme is planned for the Higbee Building, honoring the building’s original use by Higbee’s department store.

The new space is being planned, designed and furnished by dPOP!, a midwest-based design company. The interior will be created with an open style to encourage collaboration among team members and will feature an amenities-centric landscape with contemporary furniture. Quicken Loans was included on Glassdoor’s list of 10 Cool Office Spaces. The web center in the Higbee Building will carry on that legacy of colorful offices that inspire creativity and are filled with original elements adding fun to the office.

The Higbee Building, owned by affiliates of JACK Entertainment LLC, is already home to JACK Casino Cleveland and Key Bank. The building originally opened as Higbee’s Department Store in 1931. It was the primary shopping destination for Clevelanders through the 1980’s, especially during the holiday season. The building was added to the National Register of Historic Places in 1976.

###

About Quicken Loans

Detroit-based Quicken Loans Inc. is the nation’s second largest retail home mortgage lender. The company closed $220 billion of mortgage volume across all 50 states since 2013.Quicken Loans generates loan production from web centers located in Detroit, Cleveland and Scottsdale, Arizona. The company also operates a centralized loan processing facility in Detroit, as well as its San Diego-based One Reverse Mortgage unit. Quicken Loans ranked “Highest in Customer Satisfaction for Primary Mortgage Origination” in the United States by J.D. Power for the past six consecutive years, 2010 – 2015, and highest in customer satisfaction among all mortgage servicers in 2014 and 2015.

Quicken Loans was ranked No. 5 on FORTUNE magazine’s annual “100 Best Companies to Work For” list in 2016, and has been among the top-30 companies for the last 13 years. It has been recognized as one of Computerworld magazine’s ’100 Best Places to Work in IT’ the past 11 years, ranking No. 1 in 2015, 2014, 2013, 2007, 2006 and 2005. The company moved its headquarters to downtown Detroit in 2010, and now more than 10,000 of its 15,000 team members work in the city’s urban core. For more information about Quicken Loans, please visit QuickenLoans.com, on Twitter at @QLnews, and on Facebook at Facebook.com/QuickenLoans.