UICA Building On the Market for $8.7M in Downtown Grand Rapids
Earlier this summer the Urban Institute for Contemporary Arts (UICA) revealed that they would be moving from their current building and relocate to the Kendall College Campus on Pearl St. in Downtown Grand Rapids. Now the building that housed the UICA is for sale and it can be all yours for only $8.7 million.
Clearly I'm kidding about the 'only' part but this is a great opportunity if you can utilize the space and make it profitable. MiBiz reports that the building located at 2 Fulton St. SW was listed by a commercial real estate company. Senior VP with the company told MiBiz:
This property features modern architecture, inside and out, that truly makes it stand out against other buildings in the urban core. Opportunities to own an asset of this quality in downtown Grand Rapids do not come on the market very often.
He also says the building would be best used the same as UICA was or as an entertainment venue with the possibility of office space.
The former UICA building was built in 2010 and is over 39,000-sq. feet throughout its four floors. If you haven't been inside, it really is a beautiful open space that can be used in so many different ways. It even has a 195-seat movie theater.
UICA will be making the move in Spring 2021. The pandemic was the main reason to relocate after officials realized it was too big and too costly to keep the building, especially with the shutdowns.
This isn't the only major building in Downtown Grand Rapids that needs new owners. The BOB and 20 Monroe Live also went on the market in November for $15.5M and $16.5M, respectively.