A South Bend-based commercial real estate firm is dramatically expanding its West Michigan footprint by acquiring a Grand Rapids-based realtor with the same core expertise, bringing new capabilities and professional expertise to the entire marketplace on both sides of the board.
Bradley Company, a privately-owned, full-service commercial real estate firm in Indiana and West Michigan, announced Tuesday that it has acquired X Ventures, a commercial real estate firm located in West Michigan that was founded by President Chip Bowling in 2013. Chip’s father, Bill Bowling, joined X Ventures in 2014 as the lead consultant and played a significant role in the transaction. As a result of the acquisition, the X Ventures commercial operations will be integrated into Bradley Company’s existing West Michigan presence increasing both companies’ service capabilities and professional expertise in the cross-border market.
Bradley Company was founded 40 years ago in 1978 and has been doing business in Michigan as well since the mid-1980’s. Brad Toothaker, President and CEO, has focused on strategic growth throughout the Midwest. Toothaker has led Bradley Company through multiple acquisitions and says he is confident X Ventures will be a perfect fit with their entrepreneurial spirit, company culture, and complementary service areas.
Toothaker says, “From early on discussions with Chip and Bill Bowling, our team at Bradley Company felt there was a strong culture and character fit with X Ventures. We are dedicated to continuing to invest in the state of Michigan, and the additional bandwidth we will gain from the X Ventures team will provide for additional growth in the market.”
On the X Ventures side of the card, President Chip Bowling say, “After learning more about Bradley Company, their core values, and plans for future investment in West Michigan, it felt like the right time to move forward with this agreement.” He adds, “We are excited to see the teams come together in order to better serve clients as long-term real estate service partners.”
Bradley Company, which offers its clients a full range of commercial brokerage and asset services, currently manages more than 8-million square feet of commercial property, acts as brokerage agents for more than 400 commercial properties, and manages more than 3,000 multifamily units.
Bradley Company’s staff of 250 professionals spans eight regional offices, including one in downtown Grand Rapids led by Jeff Tucker, Vice President, Office Brokerage. Tucker’s longstanding business relationship with Chip Bowling and Bill Bowling was a catalyst behind the acquisition discussions, which began in December 2017.
Tucker says, “There is a high level of trust and mutual respect between the teams at Bradley Company and X Ventures. Having collaborated on many projects with Chip and Bill Bowling over the last twenty years and understanding their collaborative way of doing business, I know it will be extremely beneficial to have everyone on the same team.”
As part of the acquisition, ten licensed brokers from X Ventures will join the Bradley Company team. That growth in talent will increase Bradley Company’s total staff to 260 and increase the total number of licensed professionals in Grand Rapids to 15, making it the second largest of their eight regional offices. Bradley Company’s Grand Rapids portfolio will also significantly increase its active listings.
Acquiring X Ventures will give Bradley Company a greater depth in resources in the West Michigan market and will allow for a larger range of services that can be offered to their clients. Bradley Company’s Executive Team sees great value in leveraging X Ventures’ existing relationships and already-strong position in the marketplace.
Rudy Yakym III is Senior Vice President of Bradley Company. He says, “The enhanced capabilities that will arise from this acquisition will be of great benefit to both Bradley Company and X Ventures clients.” He notes, “There are a number of services that each organization brings to the table that are truly synergistic to one another.”
The acquisition of X Ventures will also put Bradley Company in a position to rapidly grow its property management services.
Sally Tucker is Bradley’s Managing Director for West Michigan. She says, “There is terrific potential for growth in the property management line of business for Bradley Company with the addition of the X Ventures team. Bradley Company is currently managing over 8 million square feet of commercial space and is excited for the opportunity to enhance the brokerage services for the X Ventures team, by delivering exceptional service while creating and driving value for their clients. We are anxious to start working with X Ventures team.”
X Ventures will be briefly co-branded with Bradley Company in the West Michigan market before fully converting all marketing assets and signage to Bradley Company.
Having been founded in 1978 growing to become one of the leading full-service commercial real estate firms in the Midwest, Bradley Company provides commercial brokerage services, commercial and multi-housing management, real estate tax consulting, maintenance services, project and facilities management, corporate services, research services and strategic planning.
X Ventures was founded in Grand Rapids in 2013 by President Chip Bowling. The firm provides multiple services, including consulting, brokerage, retail site selection, investment, development, and project & construction consulting. The X Ventures office is located in downtown Grand Rapids at 220 Lyon St. NW, Ste. 500.
The photo accompanying this story on Moody on the Market is courtesy of Bradley Company and shows (from left) Chip Bowling, Bill Bowling and Brad Toothaker sealing the deal.
