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CWD acquires Michigan Athletic Club property

Written by | Monday, 18 November 2013 16:44 |

CWD Real Estate Investment announced today the firm has purchased the property that houses the Michigan Athletic Club at 2500 Breton Road, popularly known as the MAC, from a local investment group.

With the help of federal and state grants, The Rapid transit agency is officially launching a 15-month study in an effort to determine if Bus Rapid Transit (BRT) is the best way to meet future ridership demand on the Lake Michigan Drive corridor.

The $500,000 that Ryan Vaughn and his partner won in a statewide business competition will help their business expand its web-based platform for high school sports news and information across the country.

Short's Brewing Co. plans to invest $1.2 million to double the size of its brewpub in Bellaire, north of Traverse City.

Horizon Bancorp will expand its presence in Michigan with the planned acquisition of Summit Community Bank in East Lansing. The Michigan City, Ind.-based Horizon expects the $18.4 million stock-and-cash transaction to close in the second quarter of 2014.

Ventra Grand Rapids 5 LLC plans to invest $16.3 million over three years and create up to 150 new jobs in Kentwood to launch a new automotive lighting line, according to a press release.

Benton Harbor-based household appliance maker Whirlpool Corporation has reached an agreement with David Weekley Homes. The Houston-based homebuilder will make Whirlpool’s appliances available in their homes around the southeast, southwest and midwest.

The building that once housed a well-loved Grand Rapids Mexican eatery could soon have new owners.

Grand Rapids-based Agility Health recently completed the acquisition of Work-Fit LLC, a provider of physical rehabilitation and software services, for $7.3 million. Work-Fit, also based in Grand Rapids, has annual revenues of about $6.3 million and employs 75 people.

Minneapolis-based General Mills is locating a new distribution center in the Midlink Business Park in Kalamazoo. A new 155,000-square-foot facility, which General Mills will lease, is set to break ground this week and expected open by July of 2014.

Shareholders at Mercantile Bank Corp. and Firstbank Corp. are set to vote Dec. 12 on a proposed merger that would create the third-largest bank based in Michigan.

Huntington Bank today committed $25 million to supporting microlending in Michigan. Launched in partnership with the Michigan Economic Development Corp., the Pure Michigan Micro Lending Initiative starts in Detroit and will extend to other areas of the state through additional partnerships.

Kellogg Co. said it would cut its global workforce by about 7 percent by the end of 2017 as part of a four-year restructuring program it announced today.

Consumers Energy broke ground earlier today on its new Cross Winds Energy Park in Tuscola County. The $255 million, 105-megawatt park is expected to meet the 10 percent renewable generation mandate required for utilities in the state.

GVSU purchases 11 acres in GR for nearly $19M

Written by | Thursday, 31 October 2013 18:33 |

Grand Valley State University board of trustees approved the purchase of 11 acres of property adjacent to its Cook DeVos Center for Health Sciences Building at 301 Michigan Street in Grand Rapids for $18.9 million.

Allegan-based Perrigo Co. reported $933.4 million in revenue, a 21 percent increase from the same period a year ago, and net income of $111.4 million, or $1.18 per diluted share, for the quarter that ended Sept. 28, according to a press release.

Advanced Furniture Testing (AFT), a Holland-based office furniture testing facility, has announced that it is opening a new 9,600-square-foot testing facility in Jasper, Ind. The company, which also expanded in 2012, has outgrown its testing capacity at its Holland facility

The two largest health information exchanges in Michigan are now connected. Grand Rapids-based Michigan Health Connect and Great Lakes Health Exchange in East Lansing struck an agreement that allows members to exchange patient medical data electronically via secure networks.

Macatawa Bank Corp. recorded lower net income for the third quarter with continued improvements in asset quality. The Holland-based Macatawa Bank attributed the year-to-year decline in quarterly net income in part to a one-time $2.8 million loan prepayment fee received during the third quarter of 2012.

The Stow Company, a Holland manufacturer of storage and organization systems for all areas of the home, has announced that it will be consolidating all of its manufacturing at its recently-expanded Holland facility.

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