Hart & Cooley Headquarters

The Hart & Cooley Headquarters is a 60,000-square-foot office and lab campus in Grand Rapids, delivered in 2016 as a build-to-suit for HVAC products manufacturer Hart & Cooley. As part of an active growth strategy, the company found itself with too many manufacturing plants and the need for a new corporate headquarters — a problem Third Coast Development was uniquely positioned to solve.

Rather than treat the build-to-suit in isolation, Third Coast structured a multi-property transaction: purchasing two of Hart & Cooley’s obsolete Midwest facilities, managing the environmental, financing, and regulatory issues attached to those sites, and using the proceeds to deliver a new world-class headquarters at 5030 Corporate Exchange Boulevard.

The structure freed approximately $6,000,000 of capital that Hart & Cooley redirected to its core operations, reduced the company’s legacy real estate liabilities, and gave it a single modern home for engineering, executive, and lab functions — all in a workplace built around how the company actually operates today.

The Hart & Cooley project is a recurring template for Third Coast’s industrial build-to-suit practice: take responsibility for the whole real estate picture, not just the new building, and structure the transaction so the tenant comes out stronger across its full operating footprint.