OVD Insurance Purchases Building in Grand Rapids, Adding 131 Jobs
GRAND RAPIDS, Mich. — OVD Insurance, a privately-owned insurance brokerage, is set to bring over 100 new jobs to Grand Rapids following its recent purchase of a downtown building. The announcement was made in collaboration with The Right Place Inc. and the Michigan Economic Development Corporation (MEDC).
OVD Insurance, in partnership with CWD Real Estate Investment, acquired a seven-story, 99,000-square-foot office building located at 37 Ottawa Avenue Northwest. The company, a full-service insurance brokerage, focuses on commercial insurance, employee benefits, personal lines, and risk management solutions. The building will serve as OVD’s new headquarters, consolidating operations from its Grand Rapids, Pittsburgh, and Raleigh offices, as well as its partnerships in Dallas and Nashville.
Over the next five years, OVD plans to add 131 new jobs to the Grand Rapids location as part of the project, representing a capital investment of at least $12,040,000. The project is supported by a $1 million Michigan Business Development Grant from the MEDC.
OVD will occupy 30,000 square feet of the building, spanning the third and fourth floors. The remaining space will continue to be leased to existing tenants. The company anticipates moving into the building later in 2025, with plans for “significant investments” to the building soon.
“We believe this move enables us to further invest in what truly matters: our culture, our people, and our clients,” said OVD President Josh Van Vels. “We look forward to attracting more like-minded individuals to our world-class team.”
OVD and CWD partnered with Macatawa Bank for the building’s financing. The Right Place worked with the MEDC to support OVD, facilitating state and local resources, including the grant.
