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Thursday, 07 May 2015 10:44

12 Weston office tower moves ahead after city approval; Adtegrity to be lead tenant

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Architectural rendering of the 12 Weston Project, which is being developed by Sibsco and Rockford Construction. Lott 3 Metz Architecture is the lead architect on the project. Architectural rendering of the 12 Weston Project, which is being developed by Sibsco and Rockford Construction. Lott 3 Metz Architecture is the lead architect on the project. COURTESY RENDERING

Digital marketing firm Adtegrity Inc. will be the lead tenant in the recently approved 12 Weston office project in the Heartside District of downtown Grand Rapids.

Despite concerns over the building’s height, the Historic Preservation Commission  last night approved the $23 million, 12-story Class A office building after a lengthy reading of nearly 30 letters of support for the project from business and community leaders and residents of the neighborhood.

“And now the real work begins,” said Charlie Secchia, a partner at Sibsco LLC, the lead developer on the project, along with Grand Rapids-based Rockford Construction Co. “We have gotten through the HPC part of this, and now we get to go fill our building with tenants and build it.”

The developers already have a tenant for the the top three floors of the building, which will be occupied by Grand Rapids-based Adtegrity (OTC: ADTY), as it seeks to consolidate its approximately 50 employees under one roof, President and CEO Scott Brew told MiBiz in an interview after the hearing.

Currently, the company operates out of offices spread between 38 Commerce and Blue35, both of which are in the same Heartside District as the 12 Weston project.

“We are big believers in that area and the re-birth of Heartside, and I’m committed to keeping our folks there,” Brew said. “Our employees love it. They love the vibrancy of the area so we are going to stick with it.”

The reason for 12 Weston’s height — and the issue that had project stakeholders in front of the commission three times — was the difficult site. Due to “crappy dirt” and high water levels, construction crews will have to dig 30 to 60 feet down to set the building’s foundation, according to project’s lead architect, Ted Lott of Lott3Metz Architecture LLC in Grand Rapids.

The commissioners eventually concluded that due to economics, the only viable project on the vacant site would have to be a tall building.

As MiBiz has previously reported, the site previously housed the now-closed bar Pub 43 and two collapsing buildings that were torn down in 2014.

The 12 Weston project will consist of a three-level parking deck, ground-floor restaurant or retail space and a glass office tower. Other amenities will include an on-site gym and lounge areas for use by tenants.

Lease rates will be $21 and $22 triple net and the building is already more than 50 percent spoken for, although leases have not yet been signed, Secchia said.

Secchia did not know exactly when an official groundbreaking would occur, but environmental work that had been put on hold as the developers waited for HPC approval will now begin immediately.

“The Class A availability downtown is really dried up,” Secchia said for an earlier report. “There are some smaller suites, but as a whole, the whole market is pretty much dried up. Office rents are creeping up, and that’s why there isn’t a lot of new product on the market. We found a way to build a quality building by meeting the demands people want.”

Read 4240 times Last modified on Sunday, 10 May 2015 21:05

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