Displaying items by tag: Rockford Construction Company Inc

With a commercial real estate development pipeline that stretches into 2019, the forecast for the industry in West Michigan remains bright. MiBiz periodically checks in on the status of proposed developments. This report highlights several projects from around West Michigan and examines where they currently sit in the development pipeline.

GRAND RAPIDS — After running into challenges with leasing retail space at a prominent downtown redevelopment, a DeVos-held entity got permission from the state to delay its incentive loan repayments.

While West Michigan’s affordable housing crisis may pale in comparison to situations in other larger metro areas, disparate groups are taking a hands-on approach to the problem.

With an increasingly mobile workforce and an ever greater need for technology investments, companies and entrepreneurs continue to seek out new designs for their offices.

GRAND RAPIDS — After a half-dozen staff departures and several stalled high-profile projects, 616 Development LLC has struck a new partnership to put the real estate firm back on what it sees as a growth trajectory.

Here is the MiBiz Growth Report for May 30, 2017: 

• M&A: Grand Rapids-based FEDCom Credit Union, which has three offices in the Grand Rapids area with 7,654 members and assets of $67.6 million, proposed to merge into Midland-based Members First Credit Union. Members First has eight offices, 50,680 members and $480 million in assets. The deal was listed in a monthly activity report issued by state regulators.

GRAND RAPIDS — With three offers on the table to acquire its under-utilized downtown office building, Kent County officials now have a decision to make: whether to actually sell the facility at 82 Ionia Avenue NW.

Boutique retailer Apothecary off Main plans to expand its presence in downtown Grand Rapids.

When Siliconature Corp. examined potential sites in West Michigan for its North American headquarters, the company knew finding an existing building that fit its specific needs would be challenging.

As bars and restaurants continue to appear rapidly west of the Grand River, specialty coffee sellers are also getting in on the action.

Kent County received three wide-ranging bids earlier this week for its 104,000-square-foot downtown office building at 82 Ionia Ave. NW.

A new kind of institutional investor has started to capitalize on opportunities in West Michigan.

An affiliate entity of Rockford Construction Company Inc. today received approvals and state Brownfield funds from the board of the Michigan Strategic Fund to move forward with its proposed “superblock” on Grand Rapids’ west side.

Here is the MiBiz Growth Report for April 17, 2017.

• M&A: Dallas-based America’s Auto Auction has acquired West Michigan Auto Auction of Wayland and Parma-based Interstate 94 Vehicle Auction as part of the company’s larger acquisition strategy. The Texas company closed on the deal April 1. Both West Michigan Auto Auction and Interstate 94 Vehicle Auction were owned by Carl Miskotten, who will remain as the general manager of both facilities, according to a report in Auto Remarketing. Prior to the deal, America’s Auto Auction acquired seven facilities from Baton Rouge, La.-based Auction Broadcasting Co. in January 2017. The company operates a total of 21 auction locations across the U.S. Terms of the deal were not disclosed.

As the city of Grand Rapids considers selling publicly-owned land, it hopes to use a new method of engaging would-be developers looking to redevelop the parcels.

Digital marketing and advertising firm Adtegrity Inc. announced today its plan to vacate its current headquarters at 38 Commerce Ave. SW and move to the growing Bridge Street corridor.

The city-owned 201 Market Ave. property in the southwest corner of downtown has drawn interest from five different development teams, city officials said today.

The board of directors for MSU Federal Credit Union (MSUFCU) today announced its plans to open a branch in downtown Grand Rapids later this year.

Here is the MiBiz Growth Report for March 6, 2017:

• M&A: American Grease Stick Co. of Muskegon was acquired last year by 3 Rivers Capital, a Pittsburgh, Pa.-based private equity firm. A manufacturer of branded automotive fluid transfer lines and related products for the automotive aftermarket industry, AGS has operations in Muskegon and the U.K. The company, which was founded in 1931, sells products through a variety of aftermarket retailers, including Advanced Auto Parts, AutoZone and Pep Boys, according to a statement. 3 Rivers purchased the company for $10 million from the Rosen family, according to a report in the Pittsburgh Business Times. The deal was backed by $9.75 million in subordinated debt and an equity co-investment from PNC Mezzanine Capital. JP Morgan Chase also provided debt financing for the transaction. Metz Lewis Brodman Must O’Keefe LLC of Pittsburgh served as legal counsel to 3 Rivers Capital. The sellers worked with investment banker Stout Risius Ross Inc. of Chicago.

West Michigan construction industry executives believe some of their recent worker training efforts have started to pay off. 

With tax credits awarded, the development of three new affordable housing projects in the area should move forward.

zHere is the MiBiz Growth Report for Jan. 9, 2017. 

• M&A: Grand Rapids-based Irwin Seating Co. signed a letter of intent to purchase American Seating Co.’s architectural fixed seating business in a deal expected to close in March 2017, pending due diligence. The business includes products for stadiums, auditoriums and other large venues. The company’s move to divest a “higher profile part of our business was an extremely difficult decision to make,” Chairman and CEO Ed Clark said in a statement announcing the transaction. The sale comes as American Seating seeks “to optimize its operations and resources in order to pursue significant growth opportunities” in its transportation seating business, where the company will continue to focus. American Seating intends to lay off 80 workers early this year as a result of the deal. However, a portion of that workforce may transition into roles at Irwin Seating, according to the statement. Terms of the deal were not disclosed.

A longtime downtown Grand Rapids deli has expanded.

More than 12,000 amateur athletes and their traveling companions from around the Great Lakes will descend on greater Grand Rapids next summer when the region hosts the State Games of America.

Spurred on by the likes of developers such as Rockford Construction Co. Inc., Ryan Ogle now hopes to make his own mark along the Bridge Street corridor on Grand Rapids’ west side.

Despite political uncertainty and fears of an impending economic slowdown, commercial real estate and construction stakeholders have faith in the fundamentals of the industry in West Michigan.

GRAND RAPIDS — Grand Valley State University seeks to raise $10 million through a capital campaign to coincide with the construction of a $37.5 million academic center along the Medical Mile.

Mike VanGessel likes to talk about the “why” behind his company’s decision to invest in the long-neglected west side neighborhood of Grand Rapids.

The medical campus under construction west of Rockford in northern Kent County follows a move by Spectrum Health to concentrate care across its footprint into one-stop locations. 

As the 2016 version of ArtPrize enters its final week, it might seem like local artists are living in a golden age.