Q&A with Chip Bowling, President of X Ventures
Chip Bowling, president of X Ventures, brings over twenty years of commercial real estate experience to his business.
For this month’s industry Q&A, I had the pleasure of sitting with Chip Bowling, Grand Rapids real estate veteran and president of X Ventures. Entering its fifth year in business, X Ventures provides commercial real estate brokerage, retail and office site selection, investment opportunities, development services, and project and construction consulting. In this Q&A, Chip shares his insight on the commercial real estate industry, the growing downtown Grand Rapids, parenting, and more.
Natalia Connelly: What inspired you to enter the commercial real estate world?
Chip Bowling: Well, for one, family, because my dad was the founder of what is now Colliers International today. Two, I liked the fact that commercial real estate offered something a little different each day. Each building is very different from its competitor. Each and every deal is different from the next in that it is structured specifically to meet both a landlord’s and tenant’s needs and wants. And the physical office environments continue to change and evolve with technology. All of these components have been and still are very interesting to me.
NC: In your two decades of experience in commercial real estate, what are some changes you’ve seen?
CB: Oh boy. I guess downtown in general. Twenty years ago people would work down here, and at five o’clock those same people would get in their cars and go home. In the evenings it was like a ghost town down here. The lights went out. You know the song The Lights Went Out In Georgia? Well, twenty years ago, the lights went out in downtown Grand Rapids at five o’clock. But slowly individuals and families like Devos, the Van Andels, Secchias and the Custers started investing their time and dollars into our downtown markets. In my opinion, these philanthropic gifts and leading by example began to put pressure on other business owners who occupied space downtown, so slowly they too began to give back to the city. That philanthropic mentality suddenly began to spiderweb throughout our downtown, and downtown started growing and having a heartbeat and has become what it is today — one of the best cities in America. As a result, today, come five o’clock pm, the lights no longer go out. Because people are now staying downtown to eat, to drink, to shop and to live.
NC: To piggyback off of that, what do you anticipate for Grand Rapids and West Michigan next?
CB: We’re now a destination where businesses see the value in being located here. Owners of companies all the way from the east coast to the west coast, and everything in between, are now thinking of Grand Rapids when looking to expand their business. It’s fascinating and, yes, a bit crazy to watch. And proud to be playing a small part of this as it continues to unfold right in front of our eyes. As we move forward, we’re going to see new companies entering our marketplace, which affects the whole economy — not just real estate — because it will also have a positive impact on our school systems, residential and retail options. It’s a domino effect, and it’s something we have to keep going.
NC: What are your hopes for Grand Rapids and West Michigan?
CB: I hope to see downtown continue in the direction it’s going. Every time you turn the corner there’s another crane in the air. There’s talk of a movie theater as one of the many amenities coming downtown, as well as more outdoor and indoor concert venues. It’s going to be cool. I’d also like to see new apartment and condo developments continue, because it give all of us more options for downtown living, which is in turn healthy for businesses that stay open past five o’clock. That said, all this growth is putting stress on our current parking situation and at some point — I hope in the very near future — we’re going to have to tackle and address this important component. Parking is the lifeline to businesses being successful now and into the future.
Led by Bowling, the X Ventures team provides a range of brokerage and development services.
NC: How do you think we solve the parking problem?
CB: Ramps. We have to designate specific areas and begin building. It’s that simple. These are not sexy projects, but they can be profitable. Over the next couple of years you’re going to hear a lot more about this.
NC: What was your biggest career break?
CB: Getting the opportunity to work with many of the philanthropic families, who continue to give back to our community, at a young age. Having the opportunity to work with them taught me a valuable lesson about life, which is that you give more than you take. The funny thing is that what you give usually comes back tenfold. It’s a unique way to live and do business, and it’s what makes Grand Rapids such a unique and special place to live and work. This mentality helped to mold who I am today. It’s really influenced who I am as a person, both as a father and businessman.
NC: Best advice you’ve ever received?
CB: That’s a good question. I guess it’s to never go to bed upset. My mom told me that. And never leave the house upset. I also was told attitude is everything and we each have a choice. We can choose to be in a good mood, be positive, smile and take pride in what we do or we can choose to be negative and walk around in a bad mood. I choose to be positive.
NC: What has been your proudest moment?
CB: My son and learning to be a great father. Just when you think you know the importance of life, go have a kid. Just when you think, “I’ve got it all figured out,” go have children. Having Eli in my life has taught me what true love is about. It’s funny to think how a two and a half year old can change and influence one’s life and one’s priorities. The goals I once had for myself have all changed because of my little guy. I am more centered today than any other time in my life, thanks to my little Eli.
Leased by X Ventures, Heritage Hill’s tallest building at 547 Cherry St. SE is undergoing a mixed-use redevelopment plan.
NC: And it’s reflected in how you run your business.
CB: Yes, absolutely. I am now learning to delegate more responsibilities to others in our company and, as a result, our company and the individuals within are growing and headed down the road towards successful careers.
NC: What does a day in your life look like?
CB: Well, real estate is constantly changing which makes our days very fast-paced. We’re always watching and studying market trends so we can stay ahead of the curve. We’re teaming on projects, which translates into lots of collaboration around the office and striving to have a full understanding of today’s market and where it’s headed. This allows us and our clients to think outside the box and make sound business decisions. I am also a very proud dad to an incredible son, which usually means showing up to work with a stain on my shirt.
NC: Sounds like you’re in a good place. Those are my questions for you, is there anything else you want to add? No pressure.
CB: Buy from Custer.
NC: That’s a better closing than I could have done.
Learn more about X Ventures here, and stay tuned to Empower for more Q&A’s with veterans in real estate, development, architecture, design, healthcare, education, small business, and more.
