Third Coast Development has purchased the former Benteler Automotive building at 320 Hall Street S.W. in Grand Rapids, Michigan, and is currently renovating the facility for anchor tenant Custer Office.
Custer intends to consolidate all of its Grand Rapids warehousing operations to the 190,000-square-foot multi-story building along the bustling US-131/Hall Street corridor.
Third Coast purchased the building from Benteler in mid-July and immediately began renovating the facility for mixed-use. Third Coast is expected to invest $2.5 million into the building and grounds.
Custer will lease 60,000 square feet for its use. More than 110,000 square feet of space will be created for industrial, warehouse or manufacturing space. Another 10,000 square feet of space will be cleared for office use. Third Coast is also updating the parking lot to include nearly 400 surface parking spaces.
“We are excited to bring new life to this facility and help bring more people, new jobs and an increased tax base to the City of Grand Rapids,” said Third Coast Development partner Brad Rosely. “The location is terrific with it being in the heart of the Grand Rapids area with easy access to 131.”
Rosely also noted the firm’s close partnership with Custer, noting “Custer is not only an anchor tenant, but they are a key partner in the renovation of this facility,” he adds, noting Custer’s involvement as the lead designer of the 190,000-square-foot building. “We are very excited to have Custer involved and can’t wait to see what they do with their space”.
The timeline for project completion has not yet been finalized.
