EDITOR’S NOTE: This story has been updated with comments from ASM Global Regional Manager Rich MacKeigan.
GRAND RAPIDS — The public authority that operates Van Andel Arena, DeVos Place and DeVos Performance Hall could add GLC Live at 20 Monroe to its portfolio of venues.
GLC Live at 20 Monroe, formerly known as 20 Monroe Live, sold to a new owner in late February for $16.5 million, according to Kent County property records.
The buyer is listed as GLC GR Live LLC, which is registered to Compound Capital LLC and reportedly linked to Indiana private equity firm Great Lakes Capital.
The venue at 11 Ottawa Ave. NW in downtown Grand Rapids was previously owned by the Gilmore Collection, which also is in the process of selling The B.O.B. adjacent to the music venue.
The Grand Rapids-Kent County Convention/Arena Authority (CAA) now is considering leasing the venue and entering into an operating agreement with the new owner. County officials approved the agreement at a meeting last week, and city officials are advancing plans to do the same. The Grand Rapids City Commission is expected to approve the deal at its meeting tonight.
The CAA includes a seven-member board and operates DeVos Place, DeVos Performance Hall and Van Andel Arena.
“What was approved is the ability for the CAA to discuss a lease,” said Rich MacKeigan, regional manager for ASM Global, which manages the CAA’s venues. “There is no lease or terms, it is very initial. The CAA, through due diligence, will only consider this option if it is contributing to the bottom line of the CAA.”
The CAA is assembling a task force to start conversations about adding the venue to its operations, MacKeigan said.
“This is an opportunity they believe will improve the entertainment offerings downtown and work with their inclusive approach to programming,” Grand Rapids Deputy City Manager Eric DeLong said during a Grand Rapids City Commission committee meeting today.
The new venue owner approached the CAA about operating the venue, DeLong said. The CAA’s governance structure requires approval from the city and Kent County to move forward.
The approval allows the CAA to negotiate a lease and operating agreement for the venue, DeLong explained.
The downtown Grand Rapids music venue opened in 2017. The 2,580-capacity venue is currently managed by Live Nation through its House of Blues Entertainment Division.
MacKeigan said maintaining the relationship with Live Nation at the venue would be “paramount” should the operating agreement move forward. The CAA and ASM Global currently work with Live Nation to book shows at Van Andel Arena, and a similar structure could take place for GLC Live at 20 Monroe, he added.
In June 2021, the venue was renamed GLC Live at 20 Monroe after Gun Lake Casino became the new name-in-title sponsor. The Wayland-based Gun Lake Casino is owned and operated by the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians (Gun Lake Tribe).
After COVID-19 pandemic-related closures, the Gilmore Collection listed the property in late 2020 for $16.5 million.