After nearly 25 years of partnership in West Michigan’s commercial real estate market, Elston-Richards and Colliers International|West Michigan closed the sale of an industrial facility at 3787 Patterson Ave. SE in Kentwood, Michigan.
The Kentwood-based warehouse facility totaling 219,325 square feet was the final property to be sold in the Elston-Richards portfolio.
“I have worked with John Holmes and Elston-Richards for almost two decades, so this transaction marks a special capstone in our partnership,” said Duke Suwyn, Colliers International|West Michigan CEO, in a statement. “When I talk to the young brokers, I remind them that the work we do isn’t just about one-time transactions, it’s about developing long-term relationships and providing value.”
“Duke has been an outstanding real estate partner over the last 25 years. He knows the West Michigan market inside and out, knows how to handle complex transactions that involve many moving parts, and above all, knows how to get deals across the finish line,” said John Holmes, Elston-Richards President and CEO, in a statement. “There’s something special about having a 25-year relationship like this.”
Colliers and Holmes have worked on multiple transactions together, totaling nearly 3 million square feet of space.
SIBSCO, LLC, a Grand Rapids-based development company owned by the Secchia Family, purchased 3787 Patterson Ave. SE in February. The 219,325-square-foot warehouse facility consists of one large 207,100-square-foot warehouse building and three buildings totaling 12,225 square feet.
Cascade Engineering is the main tenant of the warehouse and renewed its lease prior to the sale.
