UrbanGRJan 24, 2025

Architecture firm Lott3Metz Crutcher Architecture returning home to downtown Grand Rapids (200 Ottawa Ave NW).

In fourth quarter 2024 the city had a positive move in office space vacancy with +32,857sq/ft occupied; most of that in downtown.

#OfficeVacancy #GrandRapidsMI #RealEstate
https://www.crainsgrandrapids.com/news/real-estate/architecture-firm-moves-grand-rapids-office-back-downtown/

Architecture firm moves Grand Rapids office back downtown

Lott3Metz Crutcher Architecture moved its Grand Rapids office from the city’s East Hills neighborhood to downtown at the end of last year.

Crain's Grand Rapids Business
PUPUWEB BlogJan 11, 2025
Despite the return-to-office push from major companies, office spaces are seeing record-high vacancies, with 20.4% of office space in the top 50 metro areas sitting empty as of Q4 last year. A shift in the future of work and office demand. #ReturnToOffice #OfficeVacancy #WorkplaceTrends #RealEstate #FutureOfWork #HybridWork
Paul WeltyJun 14, 2023
Coming crisis for commercial leases
US office vacancy rates have exceeded 20% for the first time in decades, with San Francisco, Dallas, and Houston having rates as high as 25%. Actual office use is also decreasing, with attendance in the 10 largest business districts still below 50% of pre-COVID levels.
https://www.theatlantic.com/ideas/archive/2023/06/commercial-real-estate-crisis-empty-offices/674310/
#OfficeVacancy #RealEstateCrisis #RemoteWork
The Next Crisis Will Start With Empty Office Buildings

Commercial real estate is losing value fast.

The Atlantic