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Commercial Real Estate (213)

As the urban core of Grand Rapids and its near neighborhoods adds new residents, many people expect the area will see a rush of new retail options. However, those new stores offering basic staple items may not come as fast as many people would hope.

As demand for housing in downtown Grand Rapids and its near neighborhoods continues to grow, developers need to strike a critical balance between market-rate and “affordable” housing.

Downtowns across West Michigan have transformed into destinations for some of the area’s leading life sciences and biomedical research institutions. For proof, one needn’t look beyond Grand Rapids and Kalamazoo where Michigan State University and Western Michigan University, respectively, have each made significant investments in medical learning and research facilities

GRAND RAPIDS — Visitors to Grand Rapids’ growing central business district will find no shortage of old and new office buildings filled with law and accounting firms, design-centered businesses and tech companies.

SHERIDAN — A long-vacant and blighted industrial building in a small Montcalm County village could be demolished with the help of a federal grant, better positioning the community for redevelopment in the future.

Orion Construction plans to build a mixed-use development along the banks of the Grand River just north of downtown Grand Rapids. The River’s Edge development at 1001 North Monroe Ave. will consist of 35 one- and two-bedroom apartments, on-site parking as well as a ground-floor restaurant and bar, said John Wheeler, director of business development at Orion Construction and president of its development subsidiary, Orion Real Estate Solutions.

Stakeholders in Michigan’s construction industry remain starkly divided in the debate over repealing the state’s prevailing wage law.

When MiBiz broke news that Spectrum Health plans to bring 500 I.T. workers to a new office in downtown Grand Rapids, many quickly praised the health system’s continued investment in the city. But the move certainly gave other business owners pause once they realized Spectrum Health would need to find parking for all those employees. After all, the perception persists that the core downtown area lacks available parking options, despite studies to the contrary.

Motorists who spend much time in Ottawa County have long hoped for a north-south alternative to the busy U.S. 31 corridor that passes through the resort town of Grand Haven.

When Edgewater Resources LLC in St. Joseph sought to turn a former Whirlpool Corp. factory in Benton Harbor into a waterfront resort and championship golf course, it turned to an unusual source of funding, at least for a Michigan developer.

Developer Bradley Hartwell aims to take the skills he’s learned in his real estate career and transfer them to two independent projects in his former neighborhood.

Approximately 260 people filled the New Vintage Place event center in the American Seating complex in Grand Rapids. In past years, individual projects took home multiple awards, but this year's event recognized a greater variety of projects.

When churches and nonprofits start building, Mike Novakoski sees it as a sign that the West Michigan economy keeps getting stronger. And right now, the CEO of Holland-based Elzinga & Volkers Inc. reports the general contractor is riding a tailwind of business based in part from increased activity from faith-based nonprofits in the region.

As with other sectors of the commercial real estate market, the increased activity for many types of agricultural land right now stems from the historically low interest rates buyers can access. But with continued volatility in cash crops and in parts of the agricultural market, investors are taking an overall cautious approach to seeking out transactions.

Nearly two years after Grand Valley State University purchased an 11-acre site in a residential neighborhood of Grand Rapids for an expanded health sciences campus, residents say the full scope of the project remains shrouded in mystery.

Commercial real estate brokerage firm CBRE | Grand Rapids today released its most recent market reports for Kent County and the results point to more growth for the region. All three sectors — retail, office and industrial — experienced positive absorption and declining vacancies, pointing to continuing demand for space and pushing up lease rates across all three sectors of the market.

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