Moltus Building Group Purchases Waldo Avenue Properties for Future Development
Midland, Michigan (January 25, 2019) – Moltus Building Group, a Midland-based design build, general construction, and construction management company, purchased seven parcels of property on Waldo Avenue from the Economic Development Corporation of the County of Midland (EDCCM), which is staffed by the Midland Business Alliance (MBA).
“With Moltus Building Group’s property investment, we hope to construct a ‘build-to-suite’ office complex in excess of 7,000 squre feet,” said Michael Prezzato, Principal Member, Moltus Building Group. “With an average office employee / square foot ratio of 151 square foot per person (source: CoreNet Global), the facility should add roughly 45 new jobs to the Midland Community.”
The property was part of the (Waldo Road) Dow Purchase Program initiated in 2017, whereby Dow donated the purchased property, enabling the EDCCM to create new economic development opportunities.
“This is great news for Midland and lends significant credibility to the vision of creating positive economic impact for the community and local businesses,” said Reiner Roghmann, vice president for North America & Canada and site director of Michigan Operations for The Dow Chemical Company. “This new economic development project is a great example of the success generated from donating Waldo Road land and demonstrates opportunities for growth both as a company and a community.”
Dow, EDCCM, the MBA and the City of Midland were vital partners on this sale, working together with Moltus Building Group to foster new development and investment in the community.
“With strong relationships with American and Canadian Fortune 500 companies, as well as local entrepreneurs and business, Moltus Building Group could have chosen anywhere to call home. As a community we are extremely thankful, supportive and excited about this opportunity,” said Calvin Ieuter, chair of EDCCM. “We’re pleased to have worked with many of our local and state partners to support this significant job creation.”
The MBA staff has and will continue to provide time and talent resources in support of the project.
“While Moltus Building Group is known nationwide as a respected, quality builder, we are putting forth a concentrated effort to invest in the local Midland community,” Prezzato said. “Midland is the location of our headquarters; it’s our hometown, and it’s full of opportunity to grow thriving businesses and raise prosperous families.”
Grant Murschel, Director of Planning & Community Development, City of Midland, said about the purchase, “We look forward to working with Moltus and the Midland Business Alliance on a future project that will bring new investment to this neighborhood and added value to the surrounding residents and businesses.”