Downtown office building purchased by DeVos family
GRAND RAPIDS, Mich. – A downtown office building has a new owner and will have a new use.
200 Monroe NW will soon be owned by the RDV Corporation, after an agreement to buy the building from CWD Real Estate Investment. The terms of the sale were not released.
RDV Corporation is the DeVos family business and the building will be renovated to house the DeVos family office, the DeVos family foundations and Ottawa Avenue Private Capital, an affiliated registered investment advisory firm. The building will be the headquarters for the DeVos family entities.
The office building was built in 1967 by the Michigan Consolidated Gas Company. The most recent tenant was Fifth Third Bank. The building was part of the Vandenberg Center, which was a federal urban renewal project in the 1960s which also led to the construction of the now Calder Plaza and other downtown government buildings.
Renovations are expected to begin this month and take about 30 months to complete.