OVD Insurance recently became the co-owner of a downtown Grand Rapids office building where the privately held brokerage plans to relocate its headquarters and more than 100 employees.
OVD is building out its offices on the third and fourth floors of the approximately 100,000-square-foot building at 37 Ottawa Ave. NW. The firm purchased the seven-story building in partnership with Grand Rapids-based CWD Real Estate Investment LLC in a deal that closed on Monday for an undisclosed sum. CWD previously owned the building outright, having acquired it in 2012.
Currently based in Wyoming, OVD has space constraints at its existing offices and viewed a move downtown as a way to bring in the “next level of professionalism” and also be closer to the adviser community in the city, said Josh Van Vels, president of the brokerage firm…