First Companies’ Development Approach
We start with a clear understanding of the market, including growth trends and current/future business demands. Depending on the clients or investors we’re working with, we research available land as well as existing structures in the desired location(s) to identify development opportunities that meet market needs. The team assesses fair market values, acquisition costs, and the investment required to achieve our vision. We evaluate land for access and constructability; inspect buildings for structural soundness, needed repairs and maintenance requirements; and run the numbers to ensure the best return on the investment.
Bringing experts together from our three divisions (real estate, construction and property management) we brainstorm the possibilities as we look at current market conditions and all associated costs to deliver a quality product. The outcome might be ground-up projects or remodeling/reconfiguring existing buildings.
by First Companies
Airport Industrial Area
Company founder, Jerry Baker, saw and met the need for small to mid-sized industrial and manufacturing companies as he developed many acres around Gerald R. Ford International Airport. This affordable, convenient location is now home to dozens of thriving businesses – many of which were constructed by, and are now maintained by, First Companies. Jerry put in streets, brought in utilities and determined how to best use the land for greatest ROI.
East Paris Medical Corridor
First Companies also anticipated the need for class-A medical professional buildings outside of the congested Medical Mile in downtown Grand Rapids. Our work along the East Paris Medical Corridor has included three large multi-tenant facilities in addition to buildings for individual practices with two more projects currently underway.
Understands market demands, lease rates, property valuation, and manages all real estate transactions to ensure favorable pricing and that legal requirements are met.
Brings expertise in land utilization, constructability, and deploys teams that specialize in ground-up projects as well as office refreshes, remodels and full renovations.
Assesses the current condition of existing buildings as well as short- and longer-term maintenance needs and costs.