GRAND RAPIDS, Mich., Oct. 4, 2018 /PRNewswire-PRWeb/ -- Bradley Company, a privately-owned, full-service commercial real estate firm in Indiana and West Michigan, announced today 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 and will increase both companies' service capabilities and professional expertise in the local market.
Bradley Company was founded in 1978 and has been doing business in Michigan since the mid-1980's. Brad Toothaker, President and CEO, has focused on strategic growth throughout the Midwest. Mr. Toothaker has led Bradley Company through multiple acquisitions and is confident X Ventures will be a perfect fit with its entrepreneurial spirit, company culture, and complementary service areas.
"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," said Brad Toothaker, President and CEO of Bradley Company.
"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," said Chip Bowling, President of X Ventures. "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 over 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. Jeff Tucker's longstanding business relationship with Chip Bowling and Bill Bowling was a catalyst behind the acquisition discussions, which began in December 2017.
"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," said Jeff Tucker.
As part of the acquisition, ten licensed brokers from X Ventures will join the Bradley Company team. This 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.
"The enhanced capabilities that will arise from this acquisition will be of great benefit to both Bradley Company and X Ventures clients," said Rudy Yakym III, Senior Vice President of Bradley Company. "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.
"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," said Sally Tucker, Bradley Company's Managing Director for West Michigan.
X Ventures will be briefly cobranded with Bradley Company in the West Michigan market before fully converting all marketing assets and signage to Bradley Company.
For more information on Bradley Company, visit http://www.bradleyco.com and to learn more about X Ventures, visit http://www.xventureswm.com.
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About Bradley Company
Bradley Company was founded in 1978 and has grown to become one of the leading full-service commercial real estate firms in the Midwest. With eight regional offices in Indiana and Michigan, 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. Bradley Company employs more than 250 professionals who manage over 3,000 multi-housing units and over 8 million square feet of office, medical, industrial and retail space. For more information, please visit http://www.bradleyco.com.
About X Ventures
X Ventures, founded in Grand Rapids, Michigan in 2013 by President Chip Bowling, is a commercial real estate firm that helps clients locate, purchase and develop investments. Bill Bowling, Chip Bowling's father, who has more than four decades of commercial and industrial real estate experience, acts as the company's lead consultant. X Ventures 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. For more information, visit http://www.xventureswm.com or call 616-726-2700.
SOURCE Bradley Company
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