Despite the drama unfolding in the office space market Grand Rapids remains in a far better position than the national average.
"""Grand Rapids had an office vacancy rate of 12.7% in the first quarter of 2024, which compares favorably to the national office vacancy rate of 21.9%""" #GrandRapidMI
https://www.crainsgrandrapids.com/news/real-estate/owner-defaults-on-loan-for-17-story-downtown-grand-rapids-office-tower/
"""Grand Rapids had an office vacancy rate of 12.7% in the first quarter of 2024, which compares favorably to the national office vacancy rate of 21.9%""" #GrandRapidMI
https://www.crainsgrandrapids.com/news/real-estate/owner-defaults-on-loan-for-17-story-downtown-grand-rapids-office-tower/
Owner defaults on loan for 17-story downtown Grand Rapids office tower
The owner of the skyline-defining Bridgewater Place office tower in downtown Grand Rapids has defaulted on a $37.3 million loan after its lender grew concerned when the building’s largest tenant left.
