Fueled by growth demands, Legacy Trust has signed a long-term lease for new office space at 99 Monroe Ave. NW that will double its footprint in downtown Grand Rapids, compared to its current headquarters at 300 Ottawa Ave. NW.
A Michigan-chartered bank that specializes in investment and wealth management for individuals, families, foundations and nonprofits in West Michigan, Legacy Trust has begun the initial build-out of the 14,000 square feet of space that comprises the sixth floor of 99 Monroe. The firm plans to move its 17-member employee team into the new space by Sept. 1, in time for the start of ArtPrize 2014.
Legacy Trust is a major supporter of ArtPrize and sponsors a number of artists each year.
The building is owned by Chicago- and Grand Rapids-based Franklin Partners, which bought the property in 2012 and has spent the last two years on a $4.5 million renovation.
William Walker, president and CEO of Legacy Trust, which is celebrating its 10th anniversary this year, said the new quarters are “pure Class A space.”
The building is also home to Worklab by Custer, the Wege Foundation, the W.K. Kellogg Foundation and Gruel, Mills, Nims & Pylman PLLC.
“We are incredibly pleased to be the newest tenant in 99 Monroe,” Walker said. “We moved into our current space when we launched the business a decade ago and have now outgrown it. We wanted to find an exceptional space that would allow us room to continue growing for the next 10 years — and we did.
“There was a strong consensus among our team that our business belongs in downtown Grand Rapids where we can support the city and its business community. Having the ability to design the space exactly the way we want will accommodate our emerging family office practice as well as offering more innovative workspace that will benefit all our clients and our team. We are looking forward to moving in.”
Walker said Chip and Bill Bowling of X Ventures located the property for Legacy Trust and negotiated a 10-year lease. Rockford Construction is the general contractor for the project with Concept Design providing architectural and interior design support. Custer Inc. will provide all of the new office furnishings.
“Concept Design is developing a floor plan that will allow us to have a more open and collaborative space,” said Walker. “Various team members in fiduciary, investment, administrative and support roles will be able to work together more easily in an environment that will encourage connectivity and creativity.”
The new space also will house Legacy Trust’s family office practice, providing office space — and enhanced confidentiality and discretion — for clients.
Legacy Trust is celebrating its 10th anniversary with a series of special events, client gatherings and volunteer activities.
The firm is also celebrating the fifth year of the Legacy Trust Award Collection, a statewide competition open to adult artists with disabilities that enables them to enter ArtPrize. In May, a record 88 artists from across Michigan displayed paintings, sculpture, fiber art, photography, drawings, glass and other types of art during a two-day art show at the Grand Rapids Art Museum. The work of the four winning LTAC artists will be displayed at DeVos Place during ArtPrize this fall.