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Thursday, 28 September 2017 12:32

Grand Rapids Corporate Center acquired by local investor

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Grand Rapids Corporate Center acquired by local investor Courtesy Photo

WYOMING — A West Michigan commercial business park came under new ownership earlier this month.

Grand Rapids-based real estate investment and property management firm Leestma Management LLC acquired the 159,000-square-foot Grand Rapids Corporate Center in Wyoming for $5.5 million on Sept. 14, according to property records.

The facility was previously owned by Bloomfield Hills-based JBD GRCC LLC, which acquired the Corporate Center for $2 million in 2014. Since then, the facility has received significant upgrades and gone from 35-percent occupied to 100-percent full.

The deal was brokered by Mike Visser, an associate vice president focused on investment properties in the Grand Rapids office of commercial brokerage firm Colliers International Inc. Colliers will continue to provide leasing services, according to a statement.

Leestma Management also owns the mixed-use building at 401 Hall St. SW in Grand Rapids, which the firm acquired in 2015 for $5.3 million, as MiBiz reported at the time.

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