Banking & Finance, Human Resources, and Real Estate

Insurance brokerage moving HQ and 400 jobs downtown

August 15, 2019
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Studio Park office building exterior rendering
A rendering of the project's first office building. Courtesy Studio Park

A major downtown development has secured an office tenant.

Acrisure, a global insurance brokerage based in Caledonia, will be moving its headquarters to Studio Park in Grand Rapids, at 123 Ionia Ave. SW.

The move is expected to bring about 400 jobs from outside the city into the heart of Grand Rapids, with further expectations for near-term growth.

“This is a fantastic opportunity to create a new global headquarters for Acrisure, consolidate our home office talent into a single location and immediately enhance our collaborative culture,” said Greg Williams, CEO, Acrisure.

“Additionally, as we continue to add new partners at a record setting pace, our infrastructure capacity needs to match our growth. Further, our Studio Park location will allow us to continue attracting elite-level talent to the Grand Rapids area.”

Acrisure’s move will happen in two stages. The company has initially leased 105,000 square feet. Construction on the Studio Park office tower will begin this calendar year and should be done before the end of 2020. Acrisure’s plans involve expansion of up to 175,000 square feet in a second building, which was approved this morning by the Grand Rapids Downtown Development Authority.

For Studio Park, the office lease will increase day-time activation and bring new people to enjoy the multi-purpose development, which will also include a nine-screen movie theater, music venue, residential buildings, hotel, parking tower, public piazza and multiple restaurant and retail establishments.

“We’ve worked with the city and a multitude of partners for years to develop a strategic plan for Studio Park that brings value to the whole entertainment district,” said J.D. Loeks, president, Studio C. “This office lease is a significant piece of the equation.”

Acrisure has more than 450 locations in 37 states and 14 international locations.

It reports annual revenue of nearly $1.7 billion.

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