A proposed headquarters project in Cascade Charter Township could become the home for Acrisure LLC, a Caledonia-based insurance brokerage that’s been growing rapidly through an ambitious M&A strategy.
Acrisure CEO Greg Williams, in response to an email inquiry from MiBiz, said the company was working on locations for a new corporate headquarters, but it was too early to comment. One of the sites the company is considering is a location just south of I-96 on Glenwood Hills Parkway SE, according to Williams, who declined to elaborate further.
Acrisure, the largest acquirer of insurance brokerages in North America, has more than 400 partner insurance agencies in 32 states that offer property and casualty policies, employee benefits, human resource outsourcing, loss and claims management, surety bonding and personal lines solutions.
Toward the end of 2018, Acrisure received a $2.6 billion capital investment from existing investors. Williams told MiBiz at the time that about $240 million of the investment would go toward future acquisitions in the U.S., Canada and Europe, where Acrisure acquired a London-based insurance broker a year ago.
The Hinman Co. and Rockford Construction Co. Inc., working through the partnership Glenwood Development Partners LLC, submitted a proposal in January to Cascade Charter Township for a four-story, 136,000-square-foot office building on a 7-acre site on Glenwood Hills Parkway, near the 28th Street interchange along I-96.
The site also is adjacent to Lake Michigan Credit Union’s headquarters campus.
A spokesperson for Rockford Construction declined to comment for this report.
According to documents submitted to the township, the office building would house 670 employees for what Glenwood Development described as a “global corporation interested in building their new headquarters on our site.”
Citing the “sensitivity of current negotiations,” the partners in Glenwood Development did not identify the potential tenant for the development, other than to note it was a “professional firm, rated one of the top 10 in its industry worldwide.”
“We believe this project will generate significant economic benefits to Cascade Township, including increased property tax revenues resulting from the proposed improvements, increased consumer spending at local establishments, and increased demand for residential units in the township,” according to the Glenwood Development proposal submitted to the township.
Glenwood Development applied to the township for approval of the project as a planned unit development that requires a local zoning amendment, said Steve Peterson, community development director for Cascade Township. The proposal is presently undergoing administrative review. If the developers proceed and provide additional information the township has requested, the proposal will go through a public hearing before the Planning Commission.
If the planning panel backs the project, it would go on to the township board for another public hearing and consideration.