Banking & Finance and Real Estate

Bank signs lease to anchor downtown landmark

February 23, 2017
| By Pat Evans |
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Calder Plaza Building
The 10-story Calder Plaza Building stands across the street from DeVos Place and just west of Calder Plaza in downtown Grand Rapids. Courtesy CWD

A bank is set to be the anchor tenant of a newly renovated downtown building.

Charlotte, North Carolina-based Bank of America has signed a lease to occupy 40,000 square feet of the 10-story office building at 250 Monroe Ave. NW, or Calder Plaza Building, CWD Real Estate Investment said today.

Bank of America will occupy space on the first, fifth and sixth floors of the building.

The building has 160,000 square feet of office space.

“Bank of America’s commitment to Grand Rapids and to this property, in particular, underscore why we’re bullish on our downtown core,” said Sam Cummings, managing partner, CWD Real Estate Investment.

The anchor tenancy represents the re-establishment of a downtown presence for Bank of America and allows the organization to “co-locate our Merrill Lynch, Global Commercial Banking, Business Banking and Consumer teams,” said Renee Tabben, Grand Rapids market president, Bank of America.

“Grand Rapids is an important growth market for Bank of America,” Tabben said.

The Business Journal detailed the bank’s Grand Rapids expansion plans in a print article last August.

Bank of America serves nearly 47 million consumers and businesses with 4,600 locations and 15,000 ATMs.

Grand Rapids-based CWD purchased the 250 Monroe building in 2014 and has extensively renovated the interior and exterior of the building, with Detroit-based Hamilton Anderson serving as the lead architect.

The renovation project is finishing up this month, with tenant build outs continuing through the summer. 

CWD also said it is designing office suites of 2,500 square feet and more.

The building is located “in the heart of the business and entertainment district, with access to multiple modes of transportation, including attached parking,” said Scott Weirda, managing partner, CWD Real Estate Investment.

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