Historic office building in Grand Rapids is sold to Lansing developer

Historic office building in Grand Rapids is sold to Lansing developer

GRAND RAPIDS, MI - The 131-year-old Blodgett Building in the city's historic Heartside District has been sold to T.A. Forsberg Inc., a Lansing-based real estate developer.

Located at 15 Ionia Avenue SW, the six-story brick building has served as an office building and home to several bars and restaurants in the downtown entertainment district since it was redeveloped in the 1990s. The backside of the building is across an alley from the Van Andel Arena.

"We at T.A. Forsberg Inc. are excited to join the Grand Rapids region and position ourselves alongside fellow progressive developers, proactive community members and motivated business owners committed to making the city a destination unlike any other," said Brent Forsberg, president of T.A. Forsberg Inc.

"We recognize the weight of the opportunity at hand with the Blodgett Building and will utilize it to create something spectacular, which aligns with the evolving values, needs and desires of the city's amazing downtown area," Forsberg said.

Terms of the sale were not disclosed. The building had been owned by the Cabrio Group of Ann Arbor, which purchased the 60,000 square-foot building for $5.9 million in 2007.

"We know what a great property the Blodgett Building is because we've made it our home," said Jeff Karger, Senior Vice President of JLL, which will manage leasing and marketing activities for the building.

"The building truly has a special feel from the moment you step inside. From the grand atrium to the ample on-site amenities, tenants enjoy a modern asset in a historic site. We're excited to partner with Forsberg and help bring this historic asset to the marketplace."

The Blodgett Building was built in 1886 by lumber baron Delos Blodgett and served as one of the city's first furniture exhibition buildings. It later became the headquarters for the Klingman & Limbert Chair Co.. It also served as part of the Herpolsheimers Department Store, according to city historic records.

The building was renovated in the mid-1990s to include restaurants, a coffee shop, banquet facilities, a conference room and kitchen. Forsberg executives said they plant additional renovations building in the coming months.

Long-hidden, century-old buildings exposed as modern panels are removed

Source : http://www.mlive.com/business/west-michigan/index.ssf/2017/09/historic_office_building_in_gr.html

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