Developer buys newspaper building for $500K
A developer has acquired a newspaper building in the region for $500,000 to expand its portfolio and advance its vision for a downtown.
Holland-based Geenen DeKock Properties purchased last month the Holland Sentinel building in downtown Holland, at 54 W. 8th St.
The firm is based down the street from the building, at 12 W. 8th St.
The Holland Sentinel building was sold to Geenen DeKock Properties by the publication’s owner, Gatehouse Media Michigan Holdings, according to city of Holland property records.
The media group has held the building since November 2007, when it assumed ownership from MPG Holland Property.
Built in 1928, the nearly 17,000-square-foot building has an assessed value of more than $942,000 as of 2015.
Doug DeKock, co-owner of Geenen DeKock Properties, said the Holland Sentinel building will be renovated with space for the newspaper to continue occupying a portion of the main floor and the entire upper level.
The east portion of the Sentinel building will be converted into "some sort of retail space," DeKock said.
DeKock said the firm's long-term vision is to create a greater connection between the downtown Holland core and the farmers market, civic center and ultimately the waterfront.
“We own the other property to the west of the Sentinel building, and it is our plan over time to develop and really extend downtown Holland and do more retail and apartments on that block," DeKock said.
“Downtown Holland has been very successful. There is virtually no vacancy, and we think it is in the best interest for the community to continue to develop the downtown as a destination for shoppers. I think any connection we can make to the waterfront eventually would be beneficial. It makes Holland more convenient to tourism via boats and so forth.”
Geenen DeKock Properties has developed nearly 7 million square feet of commercial property since the mid 1980s.
The firm also has leasing and property management operations.
Its portfolio includes properties in a number of markets: Allendale, Battle Creek, Goshen, Ind., Grand Rapids, Holland, South Haven and Whitehall.