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West Michigan’s industrial real estate sector continues to outpace expectations amid record-high demand for space, leading to some new construction despite high materials costs, substantial lead times and employers struggling to fill vacant positions.
Low industrial real estate vacancy rates and ongoing construction backlogs are pushing industrial projects to more rural and outlying areas.
WALKER — The former MLive Media Group and Grand Rapids Press printing facility in Walker that once printed 375,000 newspapers a week has been sold to a Pontiac-based industrial contracting company for $9.75 million.
The retail sector of West Michigan’s commercial real estate market is seeing heavy activity despite many business owners struggling to stay fully staffed.