COLDWATER, MI (WTVB) – Evidence of Michigan’s economic upswing includes a Coldwater-based business expanding with the purchase of six office buildings in Grand Rapids and one in Holland. Commercial real-estate firm CBRE/Grand Rapids on Wednesday announced the sale of the 7 buildings known as the Belfry Portfolio to Prime Office Equities with Gates Prime Commercial Group to be managing and operating the properties.
Prime Office Equities is wholly owned by Rick Gates and Gary Hart of Coldwater and Tom Kolassa of Battle Creek and they plan to open and staff an office for the firm in Grand Rapids. In a news release, Gates said “The properties are in great condition and we felt this was the right time for us to get involved. These buildings are in prime locations with quality tenants. We are looking forward to getting started.”
Plans call for a million dollar plus investment to upgrade the buildings while Gates and his team are also in the process of rebranding the Grand Rapids buildings, Bridge Pointe Office Park. CBRE|Grand Rapids said it believes this will be their largest suburban office transaction in 2015.
