New owners seek out tech-driven talent to fill remaining space in revamped West Side landmark

New owners seek out tech-driven talent to fill remaining space in revamped West Side landmark
 
Property manager Energetix Properties, LLC is making its first foray into commercial office real estate with the purchase of the historic, Civil-War-era John Widdicomb Building at 601 Fifth St. NW -- and looking for fresh, new talent to fill the remaining 30,000 square feet of the new commercial office space.
 
"It’s a true loft building with a long history in the area," says Colliers International West Michgian's Jason Webb. "…Bob Israels did a great job transforming it from its former use to show room and there are already executive offices up there, but we’ll be using it for a multi-tenant space."
 
He says the other 32,000 square feet is already spoken for, and though he did say the updated fixtures, exposed brick and open loft ceilings on the fifth floor will be home to digital marketing firm Mindscape, owned by Grand Rapids native Pete Brand. 
 
Former owner and furniture retailer Bob Israels invested $11 million in the mid-19^th century building about a decade ago to convert the 65,000-square-foot space into a high-end showroom, but defaulted to Fifth Third Bank.
 
Owner and operator of several industrial facilities in Grand Rapids, Energetix Properties then purchased the building for $1.7 million last year with plans to spend an additional $1.5 million on converting the showroom into usable office space.
 
Located on the northwest corner of Seward Avenue and Fifth Street, Webb says renovation plans will include the demolition of a two-story addition on the north end of the property for additional surface parking on site. The fifth floor executive office includes six private offices, eight workstations, one conference room, and an executive washroom with shower and access to a patio with a three-season porch boasting panoramic views.
 
"It’s a loft building with exposed beams and washed brick, so renovations will absolutely still keep the character of the building intact," Webb says. "It's just taking the space from a showroom to a multi-tenant office space. Some of the fixtures there worked well for the building when it was a showroom, but now they’re being converted to something that lends itself more to that office space use, but we are keeping the character of the building - that’s what people are looking for."
 
Written by Anya Zentmeyer
Images courtesy of Colliers International