Crain's Grand Rapids Business, Nov 13, 2023

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CRAINSGRANDRAPIDS.COM I NOVEMBER 13, 2023

Leaders hope Shinola boosts downtown retail National brand has reputation for getting involved in communities By Kate Carlson

Founders Brewing is sponsoring American Magic, a competitor in the America’s Cup yacht race. | COURTESY IMAGE

FOUNDERS CHANGES ADVERTISING TACK Brewer sponsors DeVos-backed America’s Cup contender American Magic By Abby Poirier

When the American Magic yacht competes next year in the high-profile international America’s Cup sailing competition, its sail will prominently feature the logo for one of the largest breweries in Michigan. The sponsorship of the American challenger will allow Grand Rapids-based Founders Brewing Co. to reach a massive global audience that competition organizers forecast could reach 1 billion TV and live-streaming viewers over the span of the event in late 2023 and late 2024. Founders Brewing CEO Elton Andres Knight called the sponsorship an “experiential opportunity” that will help the brand

“I feel that this also elevates the brand and helps us access a different consumer than the one that we would conventionally appeal to a wider range of inter- access as a small, local brewery.” The deal with the New York national consumers. He likened the sponsorship to advertising in Yacht Club American Magic also the Super Bowl in terms of the links two organizations that share West Michigan roots. The event’s profile and broad reach. sailing team was co-founded in 2017 by Amway Corp. co-chair Doug DeVos, who currently serves as one of the team’s principals. American Magic is led by CEO Michael Cazer, who also serves as CEO of Grand Rapids-based Continu— Elton Andres Knight, CEO Founders Brewing um Ventures, the family office for Doug and Maria “One of the pillars that I’m try- DeVos. Cazer also formerly was ing to build here at our U.S. busi- a C-suite executive at Amway ness is to get more visibility out- Corp. side of the U.S.,” Knight told Crain’s Grand Rapids Business. See FOUNDERS on Page 48

“One of the pillars that I’m trying to build here at our U.S. business is to get more visibility outside of the U.S.”

VOL. 40, NO. 23 l COPYRIGHT 2023 CRAIN COMMUNICATIONS INC. l ALL RIGHTS RESERVED

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The recent announcement of watch and luxury goods retailer Shinola Detroit opening a downtown Grand Rapids storefront is a “huge victory” for the city that may spur more retail wins, according to local real estate and community leaders. “This will definitely help the vibrancy of the retail corridor rebound and continue to grow,” said Mark Ansara, principal and senior vice president at Advantage Commercial Real Estate. “It’s not going to be a massive store, but it’s the brand that is important. This is a huge victory for West Michigan to be landing.” The Detroit-based manufac-

Detroit-based Shinola is set to open a 1,300-square-foot shop at the corner of 40 Monroe Center St. NW in downtown Grand Rapids. | JOE BOOMGAARD

turer of watches and leather goods plans to open a store in the Peck Building at 40 Monroe Center St. NW in time for the holiday shopping season, as Crain’s Detroit first reported. Shinola signed a three-year lease for the storefront, which is owned and being built out by Rockford See SHINOLA on Page 48

Planners table Corewell’s request for surface lots Panel wants health system to engage with more community organizations By Kate Carlson

Corewell Health will have to wait to see if its plans to demolish five aging, vacant buildings in the Monroe North neighborhood and turn them into surface parking lots can move ahead. That’s because the Grand Rapids Planning Commission on

Oct. 26 tabled the health system’s request to demolish buildings at 648 Bond Ave., 647 Ottawa Ave., 637 Ottawa Ave., 700 Ottawa Ave., and 711 Ionia Ave. NW to construct four surface lots with 320 parking spaces in their place. The plans, which are part of the Corewell Health Place North Monroe Campus Master Plan, require special land use approval from the planning commission. The development’s master plan also proposes adding housing for medical residents and See COREWELL on Page 48

SMALL BUSINESS Veteran-owned coffee shop opens downtown

REAL ESTATE Former home to GVSU presidents is an ‘entertainer’s dream’

GIVING GUIDE Philanthropic opportunities in the Grand Rapids area

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