Gilmore Collection retains ownership of The B.O.B., plans September reopening

BY Wednesday, June 22, 2022 01:39pm

GRAND RAPIDS — Gilmore Collection plans to reopen The B.O.B. in downtown Grand Rapids after a deal to sell the venue fell through.

The company had shuttered the facility in late December, announcing that an affiliate had reached a deal to sell The B.O.B. and the adjacent GLC Live at 20 Monroe music venue to two separate buyers. While a deal to sell GLC Live at 20 Monroe to South Bend, Inc.-based Great Lakes Capital closed in February, The B.O.B. remains under its former ownership. 

Gilmore Collection achieved its “number one goal” of selling the live music venue, and the company is no longer pursuing the sale of The B.O.B., CEO Gregory Gilmore told MiBiz via email.

The company is now turning its attention to a September 2022 reopening of The B.O.B., according to a statement. 

Gilmore Collection plans to refresh individual venues within the four-story, 70,000-square-foot facility. The company will convert the top two floors that formerly housed L3vel and Eve Nightclub into special events and private dining space.

The owners also plan to revive live entertainment, including standup comedy at Dr. Grins Comedy Club and live music at Bobarino’s Pizzeria and H.O.M.E., a pair of themed spaces within The B.O.B.

As well, Gilmore Collection plans to expand B.O.B.’s Brewery into the first floor and include a beer garden outside of the building along Fulton Street and Ottawa Avenue. 

A post on The B.O.B.’s Facebook page says the businesses in the building will reopen Sept. 8 with limited food service as the company works to build up staff. 

“This is an exciting time for the Gilmore team and as we welcome the city back,” the company said in a statement. 

An entity tied to Gilmore previously listed The B.O.B. and GLC Live at 20 Monroe properties for sale in November 2020 with Pure Real Estate Brokerage LLC. The B.O.B. was listed for $15.5 million while the music venue was listed for $16.5 million, with an option for a buyer to purchase both entities as a package deal. 

Great Lakes Capital, the new owners of the music venue, is a real estate development and private equity firm that focuses on investing in multifamily, industrial, mixed-use, office, medical and hotel properties. The sale price was not disclosed.

Previously, Gilmore in June 2021 sold the naming rights to the former 20 Monroe Live to Gun Lake Casino, as MiBiz reported at the time. The deal resulted in the venue being renamed GLC Live at 20 Monroe. 

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Read 3234 times Last modified on Wednesday, 22 June 2022 17:10