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A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Steelcase Pyramid can be had for $19.5 million

Saturday 16 November 2013

Steelcase Inc.'s iconic pyramid building is on the market for the drastically reduced price of $19.5 million. That's a far cry from the $111 million that Steelcase spent to build its former corporate headquarters and research facility, which opened in 1989. Just three years ago, the facility had been valued at $70 million.
The 664,000-square-foot building, once formally known as Steelcase's Corporate Development Center, is situated on 125 acres of property in Grand Rapids. The seven-story building includes 333,000 square feet of office space, 242,000 square feet of research and development space; plus a 15,000-square-foot cafeteria, 12,500-square-foot data center and an 8,000-square-foot photo studio.
Steelcase began vacating its former headquarters in 2009, moving most of the employees into two under-capacity buildings to help with costs and bring its teams under one roof.
Soon after the pyramid was listed by CBRE|Martin of Lansing, MI, a rumor circulated that it would be purchased and converted into a casino, ala the Luxor in Las Vegas.
While that scenario is hardly likely to play out, it does add fuel to the questions of who would buy Steelcase's former corporate campus and for what purpose?
The $19.5 million asking price would seem to be a bargain, but the size and scope of the building, is not in just anyone's budget and space needs. Nor is the building's design everyone's cup of tea.

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