Our Story
The Veridea Group began more than two decades ago with a single retail building and has evolved its portfolio to over 50 projects. Veridea has a development presence in an area ranging from Michigan’s Upper Peninsula to the mountain west of Montana. Veridea is focused on the operation and growth of its two complimentary business divisions: Commercial Real Estate Development and Hospitality.
Veridea’s Commercial Real Estate division has developed more than 50 projects valued at over $250 million
Our diverse array of projects includes Class A office buildings, medical office buildings, retail centers, hotels, and restaurants, and our tenant roster ranges from Fortune 500 companies to regional and locally owned and operated businesses. With nearly 30 years of hands-on experience in commercial development, our expertise encompasses the full spectrum of commercial real estate:
-Opportunity identification
-Project management
-Project feasibility
-Site selection
-Market knowledge
-Capital structure and sourcing
-Development and design
-Brownfield development
-Construction management
-Leasing
Veridea’s projects have been recognized for their positive transformative impacts on neighborhoods and communities. Our innovative developments include the $42 million conversion of a blighted industrial site into a mixed use urban center, the transformation of a 100-year-old storefront into a vibrant restaurant, and the greenfield creation of a wooded professional office park.
Veridea’s strength lies in our ability to identify opportunities before others, and to transform ideas into action. We develop for both our own portfolio and with investment partners ranging from national REITs to qualified individual investors. Veridea also provides project management services for select clients.
Veridea’s Hotel Division develops and manages properties located in Michigan and the Rocky Mountain West.
Our hotels consistently operate in the upper percentages of the lodging industry in terms of revenue share, guest satisfaction and operating profits. Veridea focuses on developing and managing properties in strong regional markets, focusing primarily on limited service and extended stay properties. We manage properties for both our own account as well as for third parties.
Our hotel development services encompass the full spectrum of the development, design and construction process:
-Opportunity identification and market research
-Site selection
-Project feasibility
-Entitlement securing
-Franchise selection and negotiation
-Capital structure and sourcing
-Project management during design and construction phases,
-Procurement
Veridea’s hotel management services deliver strong results due to their extensive use of proprietary operating systems and procedures that exceed industry standards. These systems and procedures are combined with creating a culture of success and ownership among the staff at each hotel. Specific management services include executive management, revenue management, sales and marketing, operating procedures, manager training and development, property maintenance & improvements, accounting, financial reporting, and human resources. Our management clients have ranged from third party investors to financial institutions holding foreclosed properties.
Our hotels and associates have received numerous accolades over the years. For example, the Country Inn & Suites Marquette was recognized as best Carlson hotel worldwide in 2010. Several employees have been recognized by Travel Michigan as best in the State. Our Helena, Montana Residence Inn has been recognized by Marriott with its Platinum award numerous times for its exceptional guest service.
Veridea is expanding its hotel portfolio today through ground up construction, acquisitions, and third-party management contracts.
