Grand Rapids office insight - Q2 2018
The East Paris corridor and West Side of downtown remain hot submarkets. Parking continues to be a significant obstacle downtown, which has led some tenants to consider a move to the suburbs where parking is free and more accessible. There are a handful of sublease availabilities downtown, and office product for sale is virtually nonexistent.
On the development front, the 614 First Street development is nearing completion, and renovations are well underway at 37 Ottawa, where they are looking to secure their first tenants. The Studio Park development downtown has begun site work; however, they will not break ground on the office component until a tenant is secured.