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Commercial Real Estate (218)

Approximately 260 people filled the New Vintage Place event center in the American Seating complex in Grand Rapids. In past years, individual projects took home multiple awards, but this year's event recognized a greater variety of projects.

When churches and nonprofits start building, Mike Novakoski sees it as a sign that the West Michigan economy keeps getting stronger. And right now, the CEO of Holland-based Elzinga & Volkers Inc. reports the general contractor is riding a tailwind of business based in part from increased activity from faith-based nonprofits in the region.

As with other sectors of the commercial real estate market, the increased activity for many types of agricultural land right now stems from the historically low interest rates buyers can access. But with continued volatility in cash crops and in parts of the agricultural market, investors are taking an overall cautious approach to seeking out transactions.

Nearly two years after Grand Valley State University purchased an 11-acre site in a residential neighborhood of Grand Rapids for an expanded health sciences campus, residents say the full scope of the project remains shrouded in mystery.

Commercial real estate brokerage firm CBRE | Grand Rapids today released its most recent market reports for Kent County and the results point to more growth for the region. All three sectors — retail, office and industrial — experienced positive absorption and declining vacancies, pointing to continuing demand for space and pushing up lease rates across all three sectors of the market.

As warning signs begin to emerge about the health of the global real estate industry, experts in West Michigan believe there’s not much reason to worry about the fundamentals of the local market — at least not yet.

A new apartment development in Michigan’s capital wants to replicate for tenants the experience of living near Chicago’s Wrigley Field, the home of the Cubs baseball team.

Government officials with Kent County would like to vacate an underutilized office building in Grand Rapids’ central business district — that is, if the right proposal comes along.

Chuck Brown hopes that by moving his company a few blocks from its current location to the heart of downtown Sparta, he can tap into a movement that’s brewing in small towns across West Michigan. Brown, who acquired Cellar Brewing Co. from its founder in 2013, has started the process of renovating a recently vacated building at 133 East Division St. to be the new home to the craft brewery, distillery and winery.

Despite the obvious advantages of typical project management systems, Rockford Construction found that there were drawbacks to the “out-of-the-box” software available in the market. These systems could not be customized to each clients’ needs, the mobile device integration was not user friendly, and large downloads and frequent update installations were often required. So, they developed their own.

Real estate investor firm Clark Brothers Capital Corp. plans to buy up to 20 blighted properties in the greater Grand Rapids area over the next year and turn them into rental housing.

Shoppers at a typical big-box retailer wouldn’t think twice about walking several hundred feet from a parking spot to the store’s entrance.

A former state representative from Traverse City and a veteran of several state agencies, Kevin Elsenheimer was recently appointed to lead the Michigan State Housing Development Authority (MSHDA). As executive director, Elsenheimer said that his focus will be on three areas that MSHDA sees as its vital mission: getting people into affordable single-family and multifamily housing, addressing homelessness, and supporting community development efforts.

A push for quality space in the best areas — rather than a focus on the best price — continues to be the biggest driver of growth in West Michigan’s commercial retail estate market.

Walker-based Meijer Inc. has no current plans to shift away from its traditional big-box format in favor of smaller stores located in urban areas.

Stakeholders in Site 36, the sprawling vacant property near the intersection of 36th Street and Clay Avenue SW in Wyoming, maintain that they’re still being picky in finding the right one or two companies to develop the industrial location.

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