West Michigan's commercial properties are catching the eye of out-of-state investors and last year's estimated $150 million in property investment is the proof. One company, alone, has seen its way clear to sink some $40 million into the region's economy.
According to excerpts from the story:
It's a record year in western Michigan for out-of-state investment, which likely surpassed $150 million, estimated Colin Kraay, investment adviser at Grubb & Ellis|Paramount Commerce in Grand Rapids.
In the last days of 2007, the firm negotiated the sale of 17 industrial buildings for $35 million to $40 million to California-based Core Realty Holdings - a return buyer in the region. Core in 2005 purchased several industrial buildings in Kent County and the lakeshore.
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