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Another Blue Bridge Monroe Move
GRAND RAPIDS — Blue Bridge Ventures LLC, a commercial real estate developer and adviser, recently closed on the former Western American Mailers building at 720 Monroe Ave. NW in the North Monroe Business District.
Blue Bridge CEO Jack Buchanan said his firm bought the single-story structure located in the city’s Renaissance Zone because they liked the building and the business district in which it sits.
Buchanan added that his firm’s plans for the building would be revealed at a later date. Price and terms of the sale weren’t disclosed, but the State Equalized Value and taxable value of the structure was listed at $211,500.
Blue Bridge bought the building from Third Coast Development Partners LLC. Third Coast purchased the building in November from Western American Mailers, which left the site after 40 years for a new building at 5510 33rd St. SE.
The transaction marked the second building in the North Monroe Business District that Blue Bridge has purchased in three months. In November, the firm bought the Riverfront Fitness Center at 975 Ottawa Ave. NW.