BYRON TOWNSHIP - Vision Real Estate Investment Inc. today announced plans to begin developing an industrial business park in southern Kent County just south of the U.S. 131 and M-6 interchange.
The Grand Rapids-based real estate firm said in a statement it soon will begin construction on a 92,400-square-foot build-to-suit industrial building at 103 76th St. SW.
The Crossroads Business Center will allow industrial tenants in a tight market to lease space down to as low as 10,000 square feet, according to Vision Real Estate President and Founder Tim Engen.
“The best part about the Crossroads Business Center is that it’s truly customizable,” Engen said in a statement. “Tenants will have the option to choose the size of their space and then build it out to meet their needs.”
Grand Rapids-based general contractor Wolverine Building Group Inc. will construct the facility.
The vacant 10.5-acre site was previously owned by Byron Center-based electrical construction subcontractor Buist Electric Inc., according to Kent County property records.
The site was listed as ‘sale pending’ on the real estate listing service with an asking price of $1.375 million, however that figure was unconfirmed as the actual sale price as this report was published.
Grand Rapids-based commercial brokerage firm Colliers International Inc. will handle marketing of the property to would-be industrial tenants.
Executives at the firm note that with the industrial sector in the region having a vacancy rate of just more than five percent, the added inventory is highly needed.
“There isn’t much inventory available for lease in south metro Grand Rapids that offers at least 10,000 to 20,000 square feet,” Steve Marcusse, a senior vice president focused on the industrial market for Colliers International, said in a statement. “The Crossroads Business Center adds much-needed industrial and office space to the market.”