Electrolux Sells Last Structure
GRAND RAPIDS — Two more industrial properties recently changed hands.
Electrolux Home Products sold its last building in Greenville, and First Companies found a buyer for some land in the Meadowbrooke Business Park.
Both transactions were brokered by Grubb & Ellis|Paramount Commerce.
Greenville Charles, a limited liability company headed by Joel Langlois of Delta Properties fame, purchased the Electrolux building at 634 W. Charles St. The former warehouse has a footprint of 442,420 square feet and sits on 25.6 acres. The massive building stretches for 10 acres, meaning it covers nearly 40 percent of the land it occupies. It has 23 loading docks, a ceiling that rises 26 feet, and a rail line that runs through it.
GE|PC Industrial Advisor Randy Bronkema said Greenville Charles plans to partition the building and then lease space in it. Bronkema said Langlois got a break on the purchase price, which wasn’t disclosed.
“He did get a good deal on it, yes. That was (Electrolux’s) only building, and they were very motivated to wrap up the Greenville site, both in demolition and in selling this property,” said Bronkema, who brokered the deal with colleague Chuck King.
Delta Properties was established by the Langlois family in 1979 and the company owns industrial and office facilities in the local metro area and the Midwest. Greenville Charles registered with the state as an LLC in December, a month before the transaction closed.
In the other transaction, Skytron bought nearly 3.3 acres from First Companies in the southeast side business park that is near the airport and M-6. Skytron, which makes medical equipment such as surgical tables and accessories, plans to expand on the site. The company’s headquarters at 5477 Executive Parkway is adjacent to the property.
“They bought the land to do an addition,” said Bronkema, who represented First Companies in the deal that closed on New Year’s Eve.
Chris Beckering of GE|PC represented Skytron. The purchase price wasn’t disclosed.
Bronkema said land sales don’t happen very often. But he noted that M-6, also known as the Paul B. Henry freeway, has shined a bigger spotlight on properties in the Meadowbrooke Business Park. The park is only about a half-mile from the nearest M-6 exit.
The transaction unofficially marked the 22nd property that First Companies has sold since October. In two separate deals last quarter with two different California-based firms, First sold a combined 21 industrial buildings of various sizes. First still manages those facilities.
First Companies owns additional property in the business park, and Bronkema said the firm will either sell or lease parcels in Meadowbrooke. The business park has a total of nearly 500 acres in Cascade Township.
“There are some select companies that are actually growing in West Michigan,” said Bronkema. “We’re happy for that.”