Waséyabek Development Company, LLC (WDC) completed a second commercial property acquisition on June 9. The building is an 187,000 square foot warehouse facility located at 4140 East Paris Avenue SE, near the Grand Rapids airport. Veritiv Corporation, a Fortune 500 company, is the 10-year tenant and supports its logistics and packaging divisions, in part, from this location.
This acquisition adds significantly to WDC’s revenue stream and adds another long-term, stable investment to the Tribe’s economic diversification portfolio.
“The purchase of the East Paris property is an important step in strengthening the financial foundation of WDC,” former WDC Board Treasurer Chris Day said. “It provides a solid base upon which to build future diversification initiatives.”
WDC was organized by the NHBP Tribal Council to pursue non-gaming economic diversification opportunities. An additional acquisition is scheduled to close this month. More details will be provided via the NHBP and WDC website regarding the third acquisition which manufactures products for the commercial and federal marketplace.