GRAND RAPIDS — The founder of public relations and investor relations firm Lambert & Co. has acquired a downtown Grand Rapids building to accommodate growth and the formation of a tech and marketing hub.
Company founder and Chairman Jeff Lambert acquired the property at 61 Commerce Ave. According to city property records, SW for $3 million on Dec. 22, 2022. The five-story, 28,000-square-foot building is on the same block as Lambert's headquarters at 47 Commerce Ave. SW and the firm will maintain a presence at both buildings.
The additional space was needed for the growing staff at Lambert and Tiicker Inc., a Detroit-based financial technology company that Lambert co-founded in 2020 to manage a shareholder loyalty app and website.
Lambert & Co. has about 110 employees at Grand Rapids, Detroit, New York City, St. Louis and Phoenix offices. Tiicker has 10 full-time employees, which Lambert hopes to double in 2023.
About 25 total employees from TiiCKER and Lambert's Fairly Painless Advertising Inc. team will work from the newly acquired building, while the remaining workers will remain at 61 Commerce, Lambert explained.
“We're recruiting tenants for the new building, but Lambert and Tiicker will be in about one-third of the building, then two-thirds we're leasing,” Lambert told MiBiz. “I'm bullish on downtown Grand Rapids and our growing ability.”
Lambert is working with brokerage firm JLL Inc. to find additional tenants for the new office space.
The space will be renovated and built out for Lambert's companies and future tenants, but a construction company has not yet been identified, Lambert added.
“We'd love to have some other tech companies and professional services,” Lambert said. “The building has loft ceilings, brick and wood beams and is a blend of professional and cool.”
Despite a widespread shift to remote and hybrid workspaces, investing in physical offices allow teams to collaborate remains crucial, Lambert said.
“This is a reflection of our commitment to Grand Rapids and the state of Michigan, which is where we think the market is going, and I want to be fully invested and be able to control our destiny,” Lambert said.