Despite a range of threats and challenges, including very low vacancy rates market-wide, West Michigan’s traditional shopping corridors continue to thrive.
GRAND RAPIDS — A strip shopping center along 28th Street has new owners. Grand Central Plaza, located at 2035 28th St. in Grand Rapids, was sold to an undisclosed Michigan-based firm, according to NAI Wisinski of West Michigan.
A corner commercial building along the East Fulton Street corridor in Grand Rapids is under new ownership.
With vacancy rates across all commercial real estate sectors at near record lows in West Michigan, industry executives say buyers have increasingly turned their attention to vacant land.
WALKER — Falk North America Inc. is the latest company to plan a move into WalkerView Industrial Park.
GRAND RAPIDS — The non-gaming arm of the Nottawaseppi Huron Band of the Potawatomi has acquired a downtown building for its headquarters as it looks to grow its federal contracting business, MiBiz has learned.
GRAND RAPIDS — Changes involving a pair of West Michigan commercial real estate brokerages could signal future growth opportunities for the firms, sources say.
Here is the MiBiz Growth Report for Feb. 19, 2018:
• M&A: Great Lakes Scrip Center Inc., a West Michigan-based provider of gift cards for fundraising, was acquired by Minneapolis, Minn.-based Bold Orange, a recently formed marketing firm. Over 23 years, Great Lakes Scrip Center has worked with more than 48,000 organizations to raise $680 million. The company last spring acquired The Manna Group in Palatine, Ill. and was the largest gift card company in the nation. Local operations at Great Lakes Scrip, which employs about 90 people, will continue “business as usual,” said Jill Whalen, vice president for retail operations.