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Anyone w/ commercial construction knowledge know the avg. sq foot per employee? Knowing they're looking to hold 1,200. I did find this similar project in Dublin which claims to hold about 1,200 employees and sits on a 100k sq. foot lot.

Curious if there is a way to adjust the surge in enrollment during/after the financial crisis when many went back to school for mid-career job changes.

Could you feasibly tear out the south, unfinished portion of VAA to allow somewhat of a stage setup that could be used internally or externally? Although I agree, especially after seeing the 20-30 semi trucks that are staged behind the arena for the Eric Church show this weekend, it would be a very tight fit.

The rendering doesn't look like it's 100% window, but instead has some maybe dark metal flashing that goes below the window?

Correct, summarized the math, but buying out a 60% stake at ~$194 million equates to a total valuation of ~$323 million. Also, let it be known that the Dogfish Head transaction was financed partially in Sam Adams stock (~42% at around $128 Million at time of close). What I find almost shocking is that Mahou picked up a 30% stake in 2014 for $96.3 million which equates to a total valuation of $320.6 million, meaning, based on what's reported, that Founders only built $3 million in equity value over the past 5 years. There's a few things that could be obfuscating the ~$194 number as that could be directly related to purchased of assets and the closing price was higher but took out debt (of which I assume there was a ton). There could also be separate LLCs that hold things like the gift store, the taprooms, etc. that Mlive didn't get through the FOIA request.

This is an absolute abysmal valuation if true and one wonders what their sales figures look like this year after hard seltzer has inevitably eaten into some of their session IPA cash-cow. Brewbound, which is very reputable, reported during the original Mahou investment(2014) that Founders turned down a complete buy-out at $300MM from MillerCoors. Founders has grown substantially then and is, by all evidence, exiting at an significantly lower multiple compared to 2014. Also, take into consideration that the 2014 investment was likely for growth capital and not buying out investors (what is happening right now) and this one looks like it hurts even more. Don’t get me wrong, hundreds of millions is a ton of money. But to exit at a lower valuation than Dogfish Head is unbelievable to me given the strength of their portfolio, annual production numbers, and footprint. If it were to be guesses, maybe the 2014 deal had some lofty hurdles the company wasn’t able to hit?

Can't believe all the cranes downtown made it through the storm.

Sneak peek showing at the theater on 09/24 for downtown residents. Would imagine this means open to the public 09/27?

Agree, based on Dogfish Head, I’d be surprised if this came in at < $750 Million given the strength of brand, assets, sales growth, capacity, etc. From what I’ve always heard, their cap table has been an absolute mess (although this was before the 2014 round). I’m certain there were a few people drinking and retiring early last night, but I’ve also heard there were (in the early days) absolutely dozens of shareholders. Extrapolate that across multiple and significant dilutions and your guess is as good as mine. Also, an important thing to remember, these transactions are typically asset sales. I’m just speculating here, but I can’t imagine the state of their balance sheet given the amount of capital expenditures they’ve had over the past decade. If indeed an asset purchase, all those debt holders are getting bought out in advance of any equity distributions.

Confirmed Elite Airways CRJ-200 is scheduled to arrive at GRR this afternoon. Midwest Express is using Elite’s planes through an existing agreement.

Agree on Spirit. Seems like it would be brutal to compete with an already saturated ultra-low cost carrier lineup that’s pretty much servicing every existing destination for that demo. I think JetBlue makes sense because they’re aggressively attacking DAL and have ambitions to launch international service. They also have a fleet of E-175s which would allow they to effectively service GRR from BOS/JFK. Alaska would feel like a stretch to be honest. Servicing GRR from the WC would require a pretty big plane and I’m unsure if we’re at the point where demand is there

Jet Blue.

Based on how quickly the other buildings have risen, I see a fall start and a late 2020 timeline to be doable. I can imagine most of the site work is already done and it’s just a matter of pouring the foundation. Anyone know if they poured footers as part of the parking garage? I honestly wouldn’t be shocked to seen them kick this off next week.

What an incredible project and significant props to Olsen Loeks. Acrisure is growing hyperbolically and they’ll likely consolidate back office functions as they integrate their M&A targets. This should fuel HQ growth going forward and insurance isn’t as cyclical as other industries. I’ve been in GR for 10 years and this is without a doubt the most exciting news to date. Going through most other cities you’re immediately alerted to the presence of urban HQs and we’ve always had an absence of that. Outside of medical (and soon to be former with the Spectrum migration), none of the entrepreneurial pioneers have felt compelled to relocate their companies downtown. One must wonder what some of the newer organizations in town will do when it comes to risking downtown and if so, what does this mean for a post-Grand Action world?

This is correct. I heard the city was exploring this is other garages about a year ago. The technology is the same as what causes toilets to automatically flush (ultrasonic sensors). Now looking at you GRR........

My two cents: since this is primarily a biotech accelerator / innovation hub, it will have a higher security level than a typical university research station and thus they likely insulated the major entrance and eliminated major street facing windows. Any potential tenant exploring novel drug development is unlikely to do so without enhanced access controls. Also, here are a few other labs in the US which seem very similar to this building.

Dig the new signage.

Looks like they have configurations listed here: https://www.apartmentfinder.com/Michigan/Grand-Rapids-Apartments/Studio-Park-Lofts-Apartments-zlb7f7y This particular layout is 558 sq. ft.

Model 1BR/1BA is posted: https://my.matterport.com/show/?m=ze7VurJduDC Unreal if this exposed block remains, I don't think Grandville Castle is this bad:

Unrelated to HQ development, but Spectrum is closing their downtown Strive! office in August. Unfortunate that they couldn't get the model off the ground after boastings 2500+ members right after opening. I can't help but imagine that 90% of those were corporate freebie members, but who knows.

Problem with DAL is that we're right in the middle of a ~25-40 minute flight from connecting to probably 95% of their destinations (MSP & DTW). I think the switch from LGA -> JFK could only happen if it meant opening up more international destinations since I can imagine the landing fees are much higher there. SLC, SEA, and LAX couldn't really be accessed via RJ which is a huge component of legacy carriers business through the airport anyways. Although MSP and DTW are a pain in the ass because there is no cabin service, the elimination of the MD-88/90s over the past year has made the trips a lot more enjoyable. If there is one thing I'd hope for as part of the airport evolution it's the addition of another airline like JetBlue, Moxy (upstart), or Air Canada connection.

Allegiant's hyper aggressive growth at GRR makes me a little nervous for a few reasons. 1) I think Allegiant only has 1 or 2 gates. It's not uncommon for me to see 2-3 flights full of people waiting at that single gate since...err...Allegiant's demographic seems to be the type of people who need to show up 2-3 hours before departure. 2) Allegiant consistently has horrible delays. I've been at the airport numerous times when they've been on 4-6 hour delays with no end in sight. Now, the elimination of older MD-8xs will undoubtably improve their on time performance, but operating out of a single gate configuration could lead to more planes sitting on the tarmac and more stress on airport services. 3) MSY doesn't offer a tremendous amount of connection options nor is it as popular as FL when it comes to vacationers. The cruise ship port may be able to support this route and I'm uncertain if the new terminal is driving cheaper slots/gates than what is there today. I am excited for a few reasons: 1) Many friends drive to DTW/ORD to catch Spirit flights. GRR could really begin to steal some of that business with Allegiant. 2) I travel to NOLA about 3-4 times a year on DAL. I could get tickets for $175-$250 RT about 2-3 years ago and these have since ballooned to $375-$550. I'll never fly Allegiant due to OTP and the awful safety record exposed by the Tampa news a year or two ago, but this will put downward pressure on flights to NOLA out of GR.

Yes, I was speaking out DAL in this case. SWA/AAY/FFT will all operate six-abreast equipment (737/A-320). Mainline carriers seem to only supply six-abreast during evening and early morning departures with a heavy dose of connection CRJ/E-170-175/ERJ(yuck). Delta's use of the of the 757 on the 10:30-11:30 DTW-GRR is peculiar. I've been on it maybe 6 or 7 times and only once has it been noticeably full. Although I usually swing for it if I see it since it all but guarantees my feeble Gold Medallion status a decent shot at a F upgrade. It will be exciting to see what happens in the next 2-3 years with both phase outs of MD-88/90s and eventually the 757. I expect we'll begin to see some of the A220 at some point.

I was more referencing transatlantic connections. I think Boston would open up some more connections for Europe (specifically Rome and Lisbon which aren't serviced by MSP or DTW). I also see DAL adding some more European routes once operations ramp up plus you have SkyTeam partnerships of VS, KLM, AF, etc. VS is probably the most interesting since they're not operating out of DTW or MSP at this time and it's a 49% owned by DAL. Since GRR added more LGA service within the past year, I have been seeing more and more connection options through LGA....Although I avoid them like the plague since I run 50% cancellation/hours delays on that route and it requires an extra hour of sitting in a CRJ or E-170/175 which I'd easily pass in favor of the quick jaunts to DTW or MSP. I've been avoiding ATL for the most part this year since it's primarily serviced by the archaic MD-88/90s. SLC is tough since it's not a major international hub. I also think the reason we don't have service is lack of equipment with it probably not being busy enough to support A320/737 metal (these are rare in GRR anyways). It's also a hell of a trip to be backed in a Connection CRJ-500/700/900. The E-170/E-75s get about the same amount of passengers, but are slightly roomier. Who knows, maybe some of the newer A-220s would work on that route.

Interesting to see BOS become an officially recognized Delta hub. I wouldn't be surprised if this leads to GRR-BOS service down the line. Strategically, BOS will offer some transatlantic connection options currently unavailable. It will never make economic sense for us to have a GRR-JFK direct and GRR-LGA is pretty much a dead end with the 1,500 perimeter rule (at least for going east).