{"id":1004308085,"date":"2019-03-13T03:26:25","date_gmt":"2019-03-13T11:26:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004308085"},"modified":"2019-03-13T07:19:27","modified_gmt":"2019-03-13T15:19:27","slug":"schostak-brothers-buys-mi-distribution-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/schostak-brothers-buys-mi-distribution-center\/","title":{"rendered":"Schostak Brothers Buys MI Distribution Center"},"content":{"rendered":"<div id=\"attachment_1004308088\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/1040-40th-St-SE.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004308088\" data-attachment-id=\"1004308088\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/schostak-brothers-buys-mi-distribution-center\/1040-40th-st-se\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/1040-40th-St-SE.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"1040 40th St SE\" data-image-description=\"&lt;p&gt;1040 40th St. SE,&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;1040 40th St. SE&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/1040-40th-St-SE.jpg?w=800\" class=\"wp-image-1004308088 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/1040-40th-St-SE.jpg\" alt=\"1040 40th St. SE,\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/1040-40th-St-SE.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/1040-40th-St-SE.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/1040-40th-St-SE.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004308088\" class=\"wp-caption-text\">1040 40th St. SE<\/p><\/div>\n<p>Schostak Brothers &amp; Co. has acquired a 950,000-square-foot distribution facility in Grand Rapids, Mich., from Minnetrista Investments LLC.<\/p>\n<p>Colliers International | West Michigan facilitated the sale. The firm\u2019s John Kuiper, Mike Visser and Duke Suwyn represented the seller, while Steve Marcusse handled the deal on behalf of the buyer.<\/p>\n<p>Located at 1040 40th St. SE, the property currently houses Bunzl Retail Services as its lone tenant.<\/p>\n<div id=\"attachment_1004308091\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/story-3.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004308091\" data-attachment-id=\"1004308091\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/schostak-brothers-buys-mi-distribution-center\/story-3\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/story-3.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"story 3\" data-image-description=\"&lt;p&gt;1040 40th St. SE,&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;1040 40th St. SE,&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/story-3.jpg?w=800\" class=\"wp-image-1004308091 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/story-3.jpg\" alt=\"1040 40th St. SE,\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/story-3.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/story-3.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/story-3.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004308091\" class=\"wp-caption-text\">1040 40th St. SE<\/p><\/div>\n<p><em>\u201cWe really like the economic diversity of the Grand Rapids market and we had been looking for a distribution center in Grand Rapids for the last few years,\u201d <\/em>Jeffrey Schostak, Schostak Brothers &amp; Co.\u2019s president, told <em>Commercial Property Executive. \u201cThis property was a perfect fit that it was a large distribution building\u2014which is our preference, and a great global company as the sole occupant of the building.\u201d<\/em><\/p>\n<p>The property is next door to the corporate headquarters of Steelcase and is located about 10 minutes from Gerald R. Ford International Airport.<\/p>\n<h2><strong>Booming portfolio<\/strong><\/h2>\n<p>Schostak Brothers &amp; Co., a fourth-generation family business, has a portfolio of retail, office, industrial and residential properties. The company is no stranger to Michigan, with much of its portfolio in the state, including Northville Park Place, a <u><\/u><a href=\"https:\/\/www.commercialsearch.com\/news\/northville-park-place-adds-to-its-mix-of-dining-retail-and-medical-businesses\/\">500,000-square-foot mixed-use property&nbsp;in Livonia<\/a>.<\/p>\n<p>According to Schostak, one of the company\u2019s core values is being entrepreneurial.<\/p>\n<p>\u201c<em>Acquiring an older million-square-foot distribution center with a short-term lease provides opportunity to be creative and create long-term value,\u201d<\/em> he said. \u201c<em>We believe in the fundamentals of industrial real estate.&nbsp;E-commerce is only adding to an already strong sector of commercial real estate. We feel long term this is a great asset to own in a great market like Grand Rapids, Mich.\u201d<\/em><\/p>\n<p><em>Images courtesy of Colliers International | West Michigan<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Colliers represented the company in the acquisition of a 950,000-square-foot facility in Grand Rapids, as well as the property\u2019s seller, Minnetrista Investments LLC.<\/p>\n","protected":false},"author":451,"featured_media":1004308088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21748,21783,13,21742],"tags":[32763,32914,44645],"class_list":["post-1004308085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-industrial","category-investment","category-midwest","category-latest","tag-colliers-international","tag-e-commerce","tag-schostak-brothers-company-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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