Incredibly Versitile Byron Center Property Available

This is the first time this property has been offered on the market in several years.  This property is extremely well equipped.  The building is 12,000 SF, zoned Industrial and situated on 9+ Acres with a large retention pond in place.  The building has many add-ons, new HVAC, heated floors, AC, rainroom (RV leak testing) and power to 440 available. Currently the front approximately 1/4 of the building is used as retail space, with large windows and easy access, even for larger vehicles or trailers.  Contact Chip LaFleur or Greg Mahalick to schedule a showing!

 


Economic Development Foundation Update

edflogo21 Economic Development Foundation UpdateThe effective SBA 504 20-year February debenture rate is is 5.55%.  The effective SBA 504 10-year January debenture rate is 4.91%.  Ten-year debentures are only sold every other month.

In early February the Obama Administration announced a new proposal to expand the 504 Loan program to temporarily allow straight refinancing of existing debt.  A summary of the article with a link is below.

Save the date!  The 12th Annual Michigan SBA Lender’s Conference will be held on Tuesday, March 23.  See more details below.

Refinance Update

The Obama Administration announced several proposals to help small business gain access to capital early this month.  Two of the proposals will directly affect the SBA 504 program: temporary ability to refinance existing debt and an increase to the limits on SBA 504 loan amounts.

The refinance proposal under the SBA 504 program will allow refinancing of small business owner-occupied CRE loans that are maturing in the next few years. Under this new proposal, borrowers with either existing 504 loans or conventional CRE loans could apply for refinancing through the 504 program.

Also part of this proposal includes extending the fee relief until the end of the fiscal year (September 30, 2010).

The president also re-iterated his proposal to permanently increase the limits on some of SBA’s most popular loans. The proposal includes the following increases:

The proposal would increase 504 loans from $2 million to $5 million for standard borrowers (supporting a total project of $12.5 million), and from $4 million to $5.5 million for manufacturers (supporting a total project of $13.75 million).

EDF is optimistic that all of the proposals will be approved soon.  However, at this time they are only proposals.  See the link below to read the entire article regarding all SBA proposed changes.

Proposed changes to SBA programs

12th Annual Michigan SBA Lender’s Conference

Mark your calendars now for Tuesday, March 23, 2010 at the Kellogg Center in East Lansing.

The annual Michigan SBA Lender’s Conference will feature leading experts in SBA lending.  Workshops include:  Advanced Lender Roundtable, SBAExpress, Utilizing the Secondary Market, SBA loan liquidation process and the “Ten Tabs” system, Basics of Servicing SBA Loans, and of course, updates on the SBA 504 Loan Program.

EDF Contacts

Ph.  616-459-4825
Fax 616-458-5736
TF  888-330-1776

Sandy Bloem
Executive Director
sandy@growmichigan.com

Bradd Pierce
Loan Officer
bradd@growmichigan.com

Gary Witkowski
Relationship Manager
gary@growmichigan.com

 


Locus Development announces development plans for the former Spectrum Health Childcare property in East Hills

For Release on February 18, 2010

Contact: John Green, john@locusdevelopment.com

Locus Development announces development plans for the former Spectrum Health Childcare property in East Hills

Brewery Vivant, owned by former New Holland Brewing Company co-founder Jason Spaulding, has signed on as anchor tenant; plans to hire up to 50 people in first year for Belgian & French inspired brewery and 140-seat pub.

The $3-million LEED-certification candidate project is pending approvals, but developers are hopeful for late spring construction start and early fall grand opening.

GRAND RAPIDS, MI – Locus Development announced today its intentions to renovate the former Spectrum Health Childcare Center at 925 Cherry Street in the emerging East Hills neighborhood of Grand Rapids.  Locus plans to convert the site into a mixed-use, LEED-certified development with a locally-owned brewery as the lead tenant.

Brewery Vivant, owned by Jason Spaulding, co-founder and former owner of New Holland Brewing Company, intends to open the Belgian- and French-inspired brewery & pub in early fall, pending approval of various development incentives Locus is pursuing.

Spaulding plans to hire 35 people to open the establishment and anticipates having as many as 50 employees within a year.

The one acre parcel located at 925 Cherry Street most recently served as a daycare center for employees of Spectrum Health, and includes three vacant buildings that line the Cherry Street & Lake Drive corridor.  Construction of the nearly $3-million, 15,000 SF project could begin as soon as late spring.  Brewery Vivant would fill approximately 9,200 SF of space in two of the renovated structures and would aim to open by early fall.

Locus is in discussions with other potential tenants, mainly in the retail sector, to occupy other sections of the multi-building development. Cornerstone Architects and Orion Construction are the lead design and build partners.  M Retail is the commercial retail broker.

Locus also announced that future phases of the project could include constructing two new mixed-use buildings and renovating a former residential structure on the property. Local, state and federal authorities are reviewing the site and financial plans to determine the project’s eligibility for various development incentives.

“We’re excited for the chance to create a new destination in the East Hills neighborhood,” says Locus Development partner Andy Winkel.  “We feel the proposed concept demonstrates a responsible approach to building upon the existing fabric of the neighborhood,” he adds.

“The area has such a great vibe with forward-thinking businesses like Marie Catrib’s, Green Well, Corez, and Gaia.  I cannot imagine a better place to locate the brewery” says Spaulding.  “I look forward to adding another layer of depth to an already outstanding neighborhood business district.”

Brewery Vivant combines Spaulding’s passion for great beer and food, environmental sustainability and a community focus.  He intends to source ingredients from local farmers for
both the beer and the food served at the pub.

Spaulding chose the name for the brewery after a trip to the French speaking part of southern Belgium.  “Vivant” is used there as a term that loosely translates to “living the good life” and is often associated with eating and drinking well.

Brewery Vivant will brew and package Belgian- and French-inspired beer within one of the site’s newly renovated buildings and serve its beer in a 140-seat pub and outdoor seating area adjacent to the production area.  Spaulding also intends to sell his beer through in-state and out-of-state beer distributors. The latest progress on the brewery & pub can be followed on Twitter at “breweryvivant” or on Facebook under “Brewery Vivant”.

Site plans and renderings, along with other marketing materials, will be made available after all necessary approvals are granted to the project.

“We are eager to get started,” Winkel notes, “but we don’t want to get ahead of ourselves, so we’re taking an appropriate pace with this project.”

About Locus Development
www.locusdevelopment.com
In a short time Locus Development has made a name for itself as a developer of unique urban developments that inspire downtowns. Other projects include Thirty-Eight, the $26 million liner building project located at 38 Commerce Ave, Hopson Flats and Founders Brewing, among others. Green, former owner of Elevation Group, and Winkel, former president of Kelwin Properties, established Locus Development in April of 2008 after working together on three very successful downtown renewal projects.  The company is committed to building better, smarter places to live, work, and play in the city’s urban core. The company’s tagline “Life, People, Places” emphasizes the firm’s belief that the three components must work in harmony to create a truly great environment.

# # #

 


Beautiful Office Development Property – Grandville, MI south of Rivertown Crossings

Wilson Aerial 2 300x200 Beautiful Office Development Property   Grandville, MI south of Rivertown Crossings

Wilson Ave and 52nd Street

This office development land is located just south of the Grandville, MI Home Depot and Costco at the northeast corner of Wilson Ave and 52nd Street.   The properties currently have homes on site, but the value is in the land.    Parcels range in size from 0.5 acres up to approx 16 acres total.  The properties are currently master planned as Office Service, and allow up to 25% retail on the 1st-floor footprint.   The parcels are nicely wooded and will allow for a natural office setting with the convenience of Rivertown Crossings Mall, restaurants, and close highway accessibility for M-6, I-196 and US-131.  Wilson Avenue is a heavy traffic corridor with approximately 14632 cars per day, yet is situated close to top-ranked schools and family-friendly neighborhoods.

This is one of the largest growth corridors in the south west Grand Rapids area.  It would be an ideal location for a bank, neighborhood pharmacy, medical office, professional service office or other similar uses.  If you are looking to re-locate, consolidate, or add a new office/service location, we may have the perfect development site to fit your building needs.  For further information, please feel free to call Jeanne LaSargeBono at 616.459.8000 or email at jlasargebono@ccmichigan.com.  I will be glad to send a specific property flyer to you!

 


Economic Development Foundation Newsletter

edflogo2 Economic Development Foundation NewsletterBoth 10-year and 20-year debentures were sold this month.  The effective SBA 504 20-year January debenture rate is is 5.79%.  The effective 10-year debenture rate is 4.91%.

New At EDF

The EDF would like to welcome Bradd Pierce to the staff as a loan officer. Bradd comes to us with over 18 years experience as a commercial lender in the Grand Rapids market. Bradd will specialize in business development and customer relationships with the many 504 referral sources throughout Kent County and beyond. He lives in the BIG town of Dorr, Michigan with his wife of 16 years Cindy, 3 sons Ryan, Dylan, Kyle and new Chocolate Lab pup- Remington. He is an avid outdoorsman and loves hunting, boating and golfing when time permits.

Bradd has joined our team, committed to valuing relationships, excellent service delivery, expert knowledge and professional conduct – all of the ingredients that have been a part of EDF since 1981.

Bradd’s contact information is shown below. Please call him with any SBA 504 questions or prospects you might have.
Cell: 616-304-8881
Office: 616-459-4825 XT 20
Fax: 616-458-5736
Email: bradd@growmichigan.com

2010 Michigan SBA Lender’s Conference

Don’t forget to mark your calendar.  SBA’s 12th Annual Michigan SBA Lenders’ Conference will be held March 23, 2010 at the Kellogg Center at Michigan State University in East Lansing.  Cosponsored by the Michigan Small Business and Technology Development Center, the conference will feature training sessions on a wide range of topics for a variety of bank personnel.

EDF Contacts

Ph.  616-459-4825
Fax 616-458-5736
TF  888-330-1776

Sandy Bloem
Executive Director
sandy@growmichigan.com
Bradd Pierce
Loan Officer
bradd@growmichigan.com
Gary Witkowski
Relationship Manager
gary@growmichigan.com

 


South Division Avenue Vacant Land Parcels – Up to 11 Acres Contiguous

Three separate parcels along South Division in Kentwood and Wyoming are currently on the market for the lowest prices in decades.  The largest parcel is 11 acres on the East side of South Division, directly across from Silver Bullet Firearms & Training Center.  Currently being utilized as a driving range, this large parcel is zoned commercial and would make an ideal large retail pad.

Just south of 54th Street, at 5505 S. Division, a 5.61 acre vacant parcel is listed for $300,000.00; again, the lowest price on this piece of property in ages.

Right on the corner of Division and 60th Street is a 2.63 acre parcel that currently houses two small businesses in a building on the south west corner of the property.  Most of the parcel is paved, and is currently used as a “for sale by owner” auto dealership.  This parcel has access from both Division and 60th Street, and outstanding visibility.

If you have any questions about any of these properties, please feel free to give Greg Mahalick or Chip LaFleur a call at (616) 459-8000, or drop us an email!

 


Happy Holidays Grand Rapids

greg2 Happy Holidays Grand Rapids

Greg Mahalick

Happy Holidays Grand Rapids!  Greg Mahalick here wishing to extend a special hello to all family, friends, and clients – without your support none of our accomplishments would shine as bright as they do!  We at Callander Commercial have sure had one high-paced productive year & we all have a lot to be thankful for!

First and foremost, a special thank you to the owner of Callander Commercial: our broker, Ellie Callander.  Without her tiresome hours, leadership, & commitment to her team – none of this would be possible.  A warm thank you to Ellie from all of us in Grand Rapids & we wish her a safe and happy holiday season with family and friends!

Next, I would like to acknowledge our team leaders in Grand Rapids – Diane Karns & Jeanne LaSargeBono.  Both of whom have extensive experience in commercial real estate and their “open door” policy allows for less experienced agents like me to obtain the guidance and direction needed to become some of the best.  Again, thank you both, without you – our Grand Rapids office would not be possible & thriving as well as it is!

The Grand Rapids Team - Except for Me (see above)

The Grand Rapids Team - Except for Me (See Above!)

Batting third on this holiday list of acknowledgment is our very own social media celebrity, the go-to guy for tech, my friend and yours – Chip LaFleur.   His headway and progress on such media platforms as our blog, Twitter, Facebook, Google Wave, and just about every other social media site out there has been immeasurable.  Chip cultivates these platforms for leads and thus has found a way to reach pre-qualified end-users for his clients.  His tactics are cutting edge and he truly represents the face of brokerage in the future! Thanks again for all you hard work Chip!

Chad Razmus – come on down!  Chad’s work ethic is truly incomparable to anyone I have encountered.  The man is a machine for his clients, leaving no stone unturned; he methodically approaches each and every situation with tact.  A safe and happy holiday wish extended to Chad and his family!

This really is Brody.

This really is Brody.

Joining me in the “newbie” category is Pam Collins, but only in relation to her time here at Callander Commercial.  Pam is extremely experienced, stemming from a long tenure as a leasing agent at a one of the area’s larger development companies; she possesses all of the characteristics of a great agent!  Callander Commercial had the pleasure of welcoming her on board last January and her contribution to this team is priceless!

Last but certainly not least is our office assistant Melissa Saylor – truly the synergy of our team!  No really…her commitment and help allows us to focus on the important things in this business – our clients!  Without her our entire team philosophy as a whole would not exist.  Thanks again Melissa, and I hope Brody’s first holiday season is awesome!

That’s our team Grand Rapids!  I am truly honored to be a part of this team.  To our clients, thanks for reading, a safe and happy holiday season to you all & may 2010 be our best year yet!

-Sincerely,

Greg Mahalick

Happy Holidays Grand Rapids

Happy Holidays Grand Rapids! Greg Mahalick here wishing to extend a special hello to all family, friends, and clients – without your support none of our accomplishments would shine as bright as they do! We at Callander Commercial have sure had one high-paced productive year & we all have a lot to be thankful for!

First and foremost, a special thank you to the owner of Callander Commercial: our broker, Ellie Callander. Without her tiresome hours, leadership, & commitment to her team – none of this would be possible. A warm thank you to Ellie from all of us in Grand Rapids & we wish her a safe and happy holiday season with family and friends!

Next, I would like to acknowledge our team leaders in Grand Rapids – Diane Karns & Jeanne LaSargeBono. Both of whom have extensive experience in commercial real estate and their “open door” policy allows for less experienced agents like me to obtain the guidance and direction needed to become some of the best. Again, thank you both, without you – our Grand Rapids office would not be possible & thriving as well as it is!

Batting third on this holiday list of acknowledgment is our very own social media celebrity, the go-to guy for tech, my friend and yours – Chip LaFleur. His headway and progress on such media platforms as our blog, Twitter, Facebook, Google Wave, and just about every other social media site out there has been immeasurable. Chip cultivates these platforms for leads and thus has found a way to reach pre-qualified end-users for his clients. His tactics are cutting edge and he truly represents the face of brokerage in the future! Thanks again for all you hard work Chip!

Chad Razmus – come on down! Chad’s work ethic is truly incomparable to anyone I have encountered. The man is a machine for his clients, leaving no stone unturned; he methodically approaches each and every situation with tact. A safe and happy holiday wish extended to Chad and his family!

Joining me in the “newbie” category is Pam Collins, but only in relation to her time here at Callander Commercial. Pam is extremely experienced, stemming from a long tenure as a leasing agent at a one of the area’s larger development companies; she possesses all of the characteristics of a great agent! Callander Commercial had the pleasure of welcoming her on board last January and her contribution to this team is priceless!

Last but certainly not least is our office assistant Melissa Saylor – truly the synergy of our team! No really…her commitment and help allows us to focus on the important things in this business – our clients! Without her our entire team philosophy as a whole would not exist. Thanks again Melissa, and I hope Brody’s first holiday season is awesome!

That’s our team Grand Rapids! I am truly honored to be a part of this team. To our clients, thanks for reading, a safe and happy holiday season to you all & may 2010 be our best year yet!

-Sincerely,

Greg Mahalick

 


Postured to Move Quickly! Sale & Lease Reduction!!!

Click to View Listing

Click to View Listing

Attention All,

2165 Alpine (previous home of Palermo’s Pizza) offers 1,500 sq ft of retail space with an additional 800 sq ft apartment (newly remodeled) upstairs.  Lease rate reduced from $7 a sq ft to $5.50 a sq ft!  Sale price reduced from $197,000 to $147,000!!!  All reasonable offers considered & land contract terms are available!  This opportunity will not last, perfect for an owner occupied situation (live upstairs & work down), run your business & lease the apartment for additional revenue, possibilities are endless!  Call Greg Mahalick or Chip LaFleur today to schedule your showing: 616-459-8000.

Click HERE for Sale information, click HERE for lease information.

 


38 Commerce Video Overview

38 Commerce is a wonderful development that’s flying forward, here’s a great video overview of the project.  For more information, go to their website: http://38-gr.com/

 


Updates From the Economic Development Foundation

Economic Development Foundation

Economic Development Foundation

SBA 504 November Rates

Both 20 and 10-year debentures were sold this month.  The effective SBA 504 November 20-year rate remains near the all time  low at 5.03!  The effective 10-year debenture rate is 4.14%.

Last month the Federal Government announced a proposal to increase the SBA 504 cap.  The current cap is $2 million (public policy goals) or $4 million (manufacturer) and the proposed increase is $5 million!  This has several advantages for both lenders and borrowers which are discussed below.

The second article below is an update on the stimulus bill. SBA is anticipating the stimulus money to run out by early December.

There have been many changes to the SBA 504 program.  Many of the changes have been positive for both the banks and borrowers.  We encourage you to give us a call to discuss any eligibility questions you might have.  Also, EDF would be happy to come to your office and give a short presentation (Free!) detailing the SBA 504 program and all the changes that have taken place over the past year

Cap Increase

The Federal government has announced a proposal to increase the cap on the size of the Small Business Administration’s 504 loans from $2 million to $5 million.

Currently the maximum loan under the program is $2 million (or $4 million for manufacturers).  The percentage of 504 loans for more than $1.5 million has grown, from 15% of all dollars loaned in 2005 to 28% in 2009.  This expansion of the cap on the size of SBA 504 loans will allow small businesses to undertake larger projects.

More importantly, this proposal will be very beneficial for borrowers who have current SBA loans and are “maxed” out at the $2 million mark.  This will let the borrowers use the SBA 504 program on multiple projects (until the max at the $5 million).

Stimulus Bill Update

SBA announced that they anticipate the stimulus money for the SBA 504 program to run out early December.  If an authorization shows the fee reduction, the borrower is guaranteed the stimulus benefit.  In order to receive the fee reduction the borrowers must obtain an authorization before the stimulus money runs out.

What will stay in place is the refinance option that was introduced as part of the stimulus program.  This gives the borrower an option to include existing debt into the new SBA 504 project.

EDF Contacts

Sandy Bloem
Executive Director

sandy@growmichigan.com

Gary Witkowski

Relationship Manager

gary@growmichigan.com

Ph.  616-459-4825
Fax 616-458-5736
TF   888-330-1776

 


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