Kalamazoo Gazette building purchased by national real estate developer
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The building at the corner of Burdick and Lovell, former site of the Kalamazoo Gazette, has drawn interest from a national real estate and development firm.
Granger Group, a firm that specializes in health care, announced recently that it had agreed to purchase the property.
Architectural plans currently are being drafted for a complete redevelopment of the 130,000-square-foot building.
“We have received interest from several parties that would all be great additions to the Kalamazoo, and West Michigan community,” says Gary Granger, President/CEO of Granger Group, based in Wyoming, Mich.
Granger Group, with properties throughout Michigan and the U.S., says the property brings exciting opportunities to to their growing portfolio of facilities. The company says since 1997, it has been responsible for the acquisition and development of more than 70 properties with an aggregate value of over $1 billion.
Although the company specializes in healthcare facilities, it has experience developing and managing assets in numerous industries. That portfolio includes the Herman Miller MarketPlace in Zeeland, Bridgewater Place in Grand Rapids and Metro Health Village, a 180-acre village that includes senior living, retail, hospitality, and education services.
Granger Group officials say they are excited about the new project in downtown Kalamazoo, and will be revealing the full details soon.
This is the second time plans for development of the property have been announced.
In February, 2012 Phoenix Properties announced its plans to redevelop the property formerly occupied by the Kalamazoo Gazette.
They envisioned a mix of retail, residential, office, medical and perhaps even some production uses for the facility.
The firm hoped to adapt the newspaper building to feature 50,000 square feet of open office space on one floor. They noted the building has abundant production and storage space, some with more than 40-foot ceilings.
The property went back on the market when those plans did not come to fruition.
Source: Granger Group, Phoenix Properties
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