28th Street Shopping Center Listing Details & Market Data

Known for furniture making, the Grand Rapids metro is diversifying and now supports one of the fastest-growing economies in the nation while simultaneously ranking high on some “best places to live” lists. The market is home to roughly 1.1 million people, with a growth of 40,000 residents expected over the next five years. The metro consists of Barry, Kent, Montcalm, and Ottawa counties. It is roughly 160 miles west of Detroit, and Lake Michigan provides the western border. Situated along the Grand River approximately 25 miles east of Lake Michigan, it is the economic and cultural hub of West Michigan, as well as one of the fastest-growing cities in the Midwest. At the 2020 census, the city had a population of 198,917 which ranks it as the second most-populated city in the state after Detroit. Grand Rapids is the central city of the Grand Rapids metropolitan area, which has a population of 1,087,592 and a combined statistical area population of 1,383,918. A historic furniture manufacturing center, Grand Rapids is home to five of the world's leading office furniture companies and is nicknamed "Furniture City". The city and surrounding communities are economically diverse, based in the health care, information technology, automotive, aviation, and consumer goods manufacturing industries, among others. Headquartered in Grand Rapids, Spectrum Health is West Michigan's largest employer, with 25,600 staff and 1,700 physicians in 2017. Spectrum Health's Meijer Heart Center, Lemmen-Holton Cancer Pavilion, and Butterworth Hospital, a level I trauma center, are on the Grand Rapids Medical Mile, which has world-class facilities that focus on the health sciences. They include the Van Andel Research Institute, Grand Valley State University's Cook-DeVos Center for Health Sciences, and the Michigan State University College of Human Medicine medical school's Secchia Center, along with Ferris State University's College of Pharmacy. Nearly a billion dollars has been invested in the Spectrum Health Cancer Pavilion, the Spectrum Health Helen DeVos Children's Hospital, and the expansion to the Van Andel Institute. These facilities have attracted many health science businesses to the area. The city and its surrounding region house a successful food processing and agribusiness industry, which has experienced a 10-year job growth rate of 45% from 2009-2019. With Michigan being the second most agriculturally diverse state in the nation, the Greater Grand Rapids region is well-known for its fruit production. Due to its proximity to Lake Michigan, the climate is considered especially prime for apple, peach, and blueberry farming. Greater Grand Rapids produces 1/3 of Michigan's total agricultural sales..