Grand Rapids music venue 20 Monroe sold for $16.5 million, metropolis documents clearly show

GRAND RAPIDS, MI – The downtown audio venue formerly acknowledged as 20 Monroe Stay was bought for $16.5 million, according to metropolis information.

GLC GR Dwell purchased GLC Dwell at 20 Monroe – formerly identified as 20 Monroe Dwell – from the Gilmore Selection for the listing price tag of $16.5 million, in accordance to the home transfer affidavit received Tuesday, March 29, by MLive/The Grand Rapids Press.

GLC GR Are living is a constrained legal responsibility business related with a real estate progress and enterprise cash agency in South Bend, Indiana. The company is not affiliated with the Gun Lake Tribe, which purchased naming rights to the location and renamed it “GLC Live” following the Gun Lake Casino.

The South Bend agency termed Great Lakes Cash, or GLC, did not return phone calls for remark. Reps from the Gilmore Collection did not return phone calls for comment as very well.

The residence sale happened Feb. 28.

Relevant: Grand Rapids tunes venue 20 Monroe has been offered, and Van Andel Arena operator may perhaps run it

The new owners of the location have approached the area public authority that oversees the Van Andel Arena to lease and operate 20 Monroe, which is positioned at 11 Ottawa Ave. NW and has capability for 2,600 concert-goers.

Nearby leaders have supplied that authority, called the Grand Rapids-Kent County Conference/Arena Authority (CAA), the greenlight to go in advance with negotiations.

On Tuesday, the Grand Rapids Town Fee unanimously authorised allowing the CAA enter into agreement negotiations with GLC GR Reside to lease and operate the location.

That approval follows a comparable, 15-4 vote on Thursday, March 24, by the Kent County Board of Commissioners also enabling CAA to go forward with those negotiations.

Mainly because of the CAA’s construction, the metropolis and county boards have to approve allowing for the CAA to enter into a assets lease as perfectly as enter into any settlement long lasting more than 5 years.

In addition to Van Andel, the CAA also oversees DeVos Location and DeVos Functionality Corridor. It contracts with ASM World, a venue and event management organization, to work and deal with the venues.

According to Kent County files, the CAA needs to enter into a 20-year lease of 20 Monroe and an operating arrangement handling the house for a lot more than 5 several years.

“The new entrepreneurs of the venue asked for that the CAA contemplate running the location on their behalf mainly because their typical small business action is not undertaking amusement at that scale,” Kent County Administrator Al Vanderberg formerly said.

Rick Winn, chair of the CAA, previously instructed MLive the new entrepreneurs wished “local involvement, which the CAA provides.” Winn reported running the venue helps make feeling simply because of its proximity to Van Andel Arena.

The Gilmore Collection, which sold the 20 Monroe venue, also owns the B.O.B. That building is a assortment of eating places and golf equipment spanning 5 floors adjacent to 20 Monroe. The Gilmore Selection had put the home up for sale as properly at a listing selling price of $15.5 million.

Equally the B.O.B. and 20 Monroe have been mentioned in November 2020.

The B.O.B. has been shown as quickly shut given that late December 2021. The listing for the B.O.B. stays on the internet but it is selected as “pending.”

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