HOLLAND — An iconic 3-story former bank making in downtown Holland has marketed for additional than $4.4 million, MiBiz has discovered.
The former Fifth Third Bank office at 36 E. 8th St. offered on June 17 to Holland Lakeview Holdings LLC, which is registered to the handle of Warner Norcross + Judd LLP’s Grand Rapids offices. Spokespeople from both Fifth 3rd Lender and Warner Norcross + Judd declined to disclose the buyer, which is a customer of the regulation company.
The lender shut down the downtown Holland department in January 2022 and reassigned all of the staff members associates to surrounding branches, Fifth Third Vice President of Marketing and Communications Scott Stenstrom advised MiBiz. Fifth Third had detailed the making for sale last 12 months with NorthStar Business LLC for an inquiring price of $4.5 million.
“Fifth 3rd has an remarkable, lengthy legacy in West Michigan and Holland precisely likely back to People’s Bank,” Stenstrom mentioned. “We have been blessed to have a selection of really lovely attributes in our possession that have all been icons in the towns they are a element of. The driver of this final decision was transaction quantity was likely down at this branch and we could guidance the client visitors quickly with the five other branches in the region.”
The bank also needed to place the property in the palms of a developer to make much better use of the space, Stenstrom mentioned.
“I would imagine that the consumer would like this assets simply because they want to do some thing that is actually heading to make downtown Holland even far more of a desired destination than it by now is,” Stenstrom mentioned. “Only a tiny segment of individuals who ended up our consumers acquired a prospect to wander into that office environment and see how attractive it is.”
Fifth Third hopes the developer delivers in a business or long term use so more people are able to see the within of the historic building, he extra.
The 25,000-square-foot making was built in 1928 and attributes tall, arching home windows and columns on its exterior. The sale also involved two other parcels: a generate-through at 12 E. 9th St. and a different property at 36 E. 9th St., in accordance to home data.
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