August 22, 2019 Comments Off on CBRE Arranges Parcel Sale within Grand Rapids-Area Site Views: 498 Chicago News, Midwest News

CBRE Arranges Parcel Sale within Grand Rapids-Area Site

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CBRE recently represented Granger Group in the sale of 33.4 acres at 5650 Wilson Avenue SW in Wyoming, MI, near Grand Rapids. It represented the first of two multifamily phases within The Reserve Development Opportunity, a 150-acre community master-planned by Granger Group. Deal terms weren’t disclosed.

The buyer, Continental Properties Company, will develop a 300-unit multifamily property on the site. Located southwest of Grand Rapids, the Reserve also contains 131 single-family homes, and is zoned for an additional 175 single-family homes and 138 single-story apartments currently under development.

“This will be a premier luxury apartments development for the City of Wyoming and the Grand Rapids market,” said CBRE’s Jack Johns, who represented Granger. “This is the second investment Continental, a Milwaukee-based firm, has made in the Grand Rapids market, including The Springs on East Beltline.”

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