GRAND RAPIDS, Mich. (WOOD) — 20 Monroe Live in downtown Grand Rapids is on the market.
MiBiz reports first reported that the owners are selling the venue, listing it for $16.5 million with an option to buy The B.O.B. next door, which is listed for $15.5 million. Both are owned by the Gilmore Collection.
Pure Real Estate Brokerage LLC confirmed to News 8 that packaged together they are selling for $31 million, a savings of $1 million
20 Monroe Live opened in early 2017 to high hopes that it would help draw people downtown and to other nearby businesses. It booked big names right away: rock band Lynyrd Skynyrd and country act Dan + Shay were among its first 19 shows.
The entertainment industry has been hit hard by coronavirus mitigation rules, unable to hold shows.
Gregory Gilmore, the CEO of Gilmore Collection, released the following statement:
In 1996, The B.O.B. was one of the catalysts in developing and creating the downtown entertainment district and its plan to sell its real estate, not its business, will leave it with the resources to focus on protecting and growing its business and navigating thru COVID so it remains a leader in Grand Rapids.Gregory Gilmore, the CEO of Gilmore Collection