WYOMING — A long-vacant 20-acre piece of land along 28th Street SW has now hit the market for $5.1 million.
The 28 West site, which was once home to the Studio 28 movie theater but has been vacant for a decade, is being touted as “the largest retail development site available in the greater metro Grand Rapids area,” according to a statement.
Kristen Moore and Mark Ansara, brokers in the Grand Rapids office of commercial real estate brokerage Colliers International Inc., hold the listing for the site.
“We engaged Colliers because we felt the time was right to offer this great opportunity and to find buyers who will grow the site and take it to the next level,” Celebration Cinema President J.D. Loeks said in a statement.
Celebration Cinema owned and operated Studio 28 until it closed in 2008.
The vacant site could be home to both local and national retailers.
“This land has been vacant for nearly a decade and it is a clean slate with a large footprint,” Ansara, an associate vice president at Colliers International, said in a statement. “We’re looking forward to getting it back into production and spurring economic growth.”
Using the vacant land — and more broadly, that stretch of 28th Street SW — as a means for economic development has long been a goal for officials with the city of Wyoming.
“The 28 West project is critical to the future success of the City of Wyoming,” Wyoming Assistant City Manager Megan Sall said in a statement. “We look forward to working with both Celebration! Cinemas and Colliers International … as we continue to develop what will most certainly be a transformational project for our community.”
The “28 West” site sits just west of the vacant 169,000-square-foot building that once housed Klingman’s Furniture and before that, Rogers Department Store.
Portage-based real estate firm The Hinman Co. plans to renovate the “functionally obsolete” building for tenant Advantage Solutions, as MiBiz exclusively reported in May.
The company could bring as many as 450 employees to the site.
“Our issue is economic activity on 28th Street,” Wyoming City Manager Curtis Holt told MiBiz at the time. “That’s what we’re trying to drive. Bringing that number of employees, they’ll utilize our restaurants and our businesses. That’s what’s important for us.”