GEP To Market Steelcase Plants

May 3, 2005
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GRAND RAPIDS — Fresh off its success marketing a portion of the long-vacant Bosch plant, Grubb & Ellis/Paramount will attack an even heftier piece of 44th Street real estate.

Following a national search, Steelcase Inc. announced today that it has chosen the firm as its brokerage partner for its Grand Rapids area property redevelopment project.

The nearly 250-acre parcel includes existing infrastructure as well as approximately 5 million square feet across multiple buildings that will become available following the massive consolidation the commercial furniture manufacturer announced in March.

Steelcase will work with Grubb & Ellis|Paramount to explore all the available opportunities for optimum redevelopment of the property. When the exploration process is complete, Steelcase will announce a solution that will benefit the company, its shareholders and the West Michigan community, said President and CEO James Hackett.

“We are pleased to continue to call West Michigan our corporate home,” said Hackett. “Our commitment to this community remains unchanged. Our global headquarters will remain in Grand Rapids and 55 percent of our manufacturing will also remain in West Michigan. We look forward to welcoming new neighbors to this beautiful campus.”

“Just like the recent redevelopment of the Bosch property brought new life and excitement to our local business community, we expect that the redevelopment of the Steelcase property will be another opportunity to re-energize our city,” stated Birgit Klohs, president of The Right Place Inc.

Grand Rapids Mayor George Heartwell added, “This is the first time in my tenure that Grand Rapids has had such a large and attractive parcel available for redevelopment. We are confident that it will appeal to a variety of businesses that can now consider Grand Rapids a possibility for relocation.”    

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