GRAND RAPIDS — The house owners of the 20 Monroe Live live performance location space and The B.O.B. are searching to provide their downtown true estate as the COVID-19 pandemic proceeds to ravage the enjoyment and hospitality industries, MiBiz has uncovered.
The 20 Monroe Reside new music and enjoyment location in downtown Grand Rapids is outlined for $16.5 million and contains an possibility to purchase The B.O.B. home — which is detailed at $15.5 million — as a deal deal, in accordance to a listing as a result of Pure Serious Estate Brokerage LLC.
The assets that includes the 42,760-sq.-foot location at 11 Ottawa Ave. NW is owned by 20 Monroe Constructing Co. LP, which is registered to Gilmore Assortment Chairman John Gilmore. The listing for the two-story location, which is structured as a condo unit, consists of the existing lease with Stay Country, which operates and manages 20 Monroe Stay.
“In 1996 The B.O.B. was a single of the catalysts in producing and developing the downtown leisure district and its approach to promote its real estate, not its business, will leave it with the means to concentrate on preserving and growing its organization and navigating through (COVID-19) so it stays a leader in Grand Rapids,” Gilmore Selection CEO Greg Gilmore mentioned in an e-mail to MiBiz.
20 Monroe Stay opened in 2017 as component of an growth of The B.O.B. The location has a capacity of 2,580 and is managed by Are living Nation as a result of its Residence of Blues Leisure division.
It is unclear whether or not the likely sale of the venue will lead to any changes to operations at the venue or The B.O.B.
Pure Real Estate executives declined to comment on the listing.
Tunes venues had been amongst the 1st firms to near underneath a March 16 govt buy from Gov. Gretchen Whitmer as the COVID-19 pandemic started to spread in Michigan.
Though some have experimented with outdoor concerts, most — such as The Intersection and Pyramid Plan in Grand Rapids — haven’t reopened since of capacity constraints.
This summer time, independently owned new music venues formed the Nationwide Unbiased Venue Affiliation to lobby Congress for direct funding reduction.
In September, dozens of Michigan venues known as on state officers to make a $10 million pandemic aid fund to enable them steer clear of closing forever.
EDITOR’S Take note: This tale has been current to observe that Pure Authentic Estate Brokerage has outlined the home, and that The B.O.B. property is detailed at $15.5 million.