Rockford acquires management of McKay Tower
Rockford Property Management assumed property management responsibilities at the historic McKay Tower in downtown Grand Rapids.
“We couldn’t be more excited to add the iconic McKay Tower to our growing management portfolio alongside our Tribal partners Gun Lake Investments and Waséyabek Development Company,” said Monica Steimle-App, executive vice president of real estate development and property management at Rockford Construction.
Rockford Property Management is the real estate division of Rockford Construction.
“Our property management team offers a range of capabilities for customers and tenants, and we are eager to showcase what we do best through this venture,” Steimle-App said.
Built in 1890, the McKay building has undergone many additions, developments and renovations as the city’s population has grown and the building has added new tenants.
The Tower was purchased in 2020 by Tribally-owned Gun Lake Investments and Waséyabek Development Company LLC from Steadfast Property Holdings for $17.5 million.
“We are excited to leverage this partnership to build on McKay Tower’s rich, diverse history,” said Kurt Trevan, CEO of Gun Lake Investments. “This gives us the opportunity to work together with a like-minded team focused on showcasing the property and building strong relationships with our tenants. We look forward to what the future holds.”
Rockford will oversee all property management services at the building, which currently includes 51 commercial tenants, seven retail tenants, 18 residential apartments and one ballroom. The company’s focus will be on delivering quality service and amenities to all tenants while creating a community for those that live, work, play and visit the location.
“Gun Lake Investments and Waséyabek are committed partners of the Grand Rapids community with their economic influence in the region dating back centuries through the traditional commerce of their respective tribes,” said Deidra Mitchell, president and CEO of Waséyabek. “It was important to us to select a local provider of property management services that aligns with our continued commitment to Grand Rapids.”
The McKay Tower property includes 94,268 square feet of retail and commercial space, plus 21,974 square feet of residential space. Located adjacent to Rosa Parks Circle, the building is emblematic of the city’s history and transformation over the last two centuries. Starting as a four-story building, it now stands at 16 floors after additions were added over the years.
Posted By: Grand Rapids Business Journal on May 25, 2020. For more information, please click here to read the source article.
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