A veteran construction executive and property owner has listed retail suites in a pair of downtown buildings after decades of ownership, saying the time is right for the next generation to take the reins in the city’s core business district.
Mike VanGessel, founder of VG Investments and the former CEO and co-founder of Rockford Construction Co., aims to sell commercial space in the Belford and Peck buildings in the heart of downtown Grand Rapids. Current tenants in the spaces include Shinola, Greyson Clothiers and Gazelle Sports.
“We just think it’s a really good time for new life, new energy and young people to come in and have ownership,” VanGessel told Crain’s Grand Rapids Business. “It’s an important piece of property, but it is not a piece of property that has such a high cost of entry, so we think it’s something where someone can come in and be passionate about it in a new way and with new ideas.”
VanGessel is partnering with his former firm’s property management team to sell the commercial spaces. Retail suites in the Belford building, located on the corner of Ionia Ave. NW and Monroe Center St. NW, are listed for $1.45 million. Units in the Peck building are listed for $2.7 million…