GRAND RAPIDS — In an effort to strengthen retail activity in West Michigan, two commercial real estate brokerages have announced a new partnership.
The two firms — the Grand Rapids office of Colliers International and South Bend, Ind.-based Bradley Company LLC — will work together to market six retail properties in the Grand Rapids area, according to a statement.
The properties include newly-renovated strip shopping centers along the busy retail corridors of 28th Street and Alpine Avenue, as well as vacant parcels on Alpine Avenue and the East Beltline Avenue.
Colliers Associate Broker Mark Ansara told MiBiz that the partnership between the two brokerages resulted from Bradley Company having an established presence in southwest Michigan and northern Indiana, but not as much of a presence in the Grand Rapids market.
Bradley Company will manage all the properties on behalf of their owner, Indiana-based real estate private equity fund Great Lakes Capital, while Colliers will market the properties.
According to Ansara, the brokerage has a number of letters of intent for spaces and all of the properties are experiencing activity from potential tenants.
Additionally, Ansara noted that a commercial brokerage hiring another brokerage is rare.
Terms of the deal were not disclosed.
“We have had a wonderful relationship with Colliers International | West Michigan for several years now, and we’re excited to continue it through this partnership,” Brad Toothaker, president and CEO of Bradley Company, said in a statement. “Colliers International | West Michigan has an outstanding retail team that is making a positive impact in the Grand Rapids community, and we can’t wait to collaborate with them on these projects.
“We share a common goal of helping retail businesses find a location that works best for them and their customers, and this partnership aims to do just that,” Toothaker said.