GRAND RAPIDS — Developers of apartments in Grand Rapids are still seeing high demand for market-rate units.
Construction management firm Wolverine Building Group has completed its 18-month long leadership transition, the company said Friday.
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.
West Michigan’s commercial real estate industry is capping off a banner year for 2016. Developers, architects and contractors have all reported success across multiple sectors, including retail, industrial and health care. And while some divisions have started to emerge about just how strong all those sectors truly are, executives across the region agree the boom in apartment development — and the corresponding need for design and construction for those projects — is real and makes for significant business opportunity. In separate interviews, MiBiz spoke with three industry stakeholders to get their take on where one segment in particular — the multifamily market — stands and where it’s going.
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.
Here is the MiBiz Growth Report for Aug. 8, 2016.
• M&A: Grand Rapids-based architecture firm Progressive AE Inc. has acquired Charlotte, N.C.-based AI Design Group Inc., according to a statement. The new company will be headquartered in Grand Rapids and leadership will remain the same, according to a statement. AI Design will now be referred to as a Progressive AE company. Terms of the deal were not disclosed.
Advanced Packaging Corp. unveiled a 75,000-square-foot expansion today that coincides with the company’s 50th anniversary, according to a statement.
Grand Rapids-based general contracting firm Wolverine Building Group today announced the start of an 18-month leadership transition that will culminate with two vice presidents assuming the role of co-presidents.