Franklin Partners Launches $3.5 M Renovations at Grand Rapids’ Historic 25 Ottawa Building
- Sep 04, 2014
Franklin Partners, the owner of a six-story building in downtown Grand Rapids, broke ground on a complete transformation process that will bring back the 124-year-old structure to the city’s office market.
Located at 25 Ottawa Street SW in the city’s Heartside district, the 105,700-square-foot building was originally built in 1890 for the Worden Grocery Co., Wholesale Grocers, Tea Importers and Coffee Roasters, and was later used by Williams Distributing as retail and warehouse space. In mid-1990s, when the Van Andel Arena was completed, the mid-rise structure was remodeled into offices and became known as the Arena Station, serving the businesses in the thriving downtown area.
As reported by MLive.com, Franklin Partners purchased the Arena Station building for $6.18 million in March this year with plans to rebrand and reposition the property. As such, the Chicago-based real estate developer has renamed the building into Twenty 5 and now is investing $3.5 million in renovations under plans designed by Wright Heerema Architects, also of Chicago. Franklin Partners has hired local construction company Owen-Ames-Kimball (O-A-K) to manage the Class A renovation project which
will continue through fall and winter with a completion date scheduled for June 2015.
According to O-A-K, the transformation process at Twenty 5—which is connected to the Van Andel Arena and nearby hotels via a skywalk—calls for a new entrance, a new lobby with a two-story atrium, a fitness center high-end elevator finishes, as well as upgraded shared tenant areas, conference rooms and new street-level retail space.
This is Franklin Partners’ second major renovation project in downtown Grand Rapids. According to MLive.com, in 2012 the developer paid almost $12 million to Westminster Campau LLC for the outdated Campau Square Plaza building located at 99 Monroe Avenue. Sixteen months and $4 million later, the 12-story, 200,000-square-feet building became 99 Monroe, one of the prime office locations in Grand Rapids.
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Renderings via O-A-K