On average, listings lease in the $20's per square foot per year. The Heartside-Downtown Grand Rapids submarket is seeing a a boost in rates. In the last 3 months, the median rate increased $26 per sqft per year.
Compared to the rest of the Grand Rapids market, the Heartside-Downtown Grand Rapids submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 16 listings have been posted online, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. About 19% of the available space in the Heartside-Downtown Grand Rapids are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,410 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are approximately 5 stories. Most buildings in this region were built in 1890 and are Class Class B.
A large portion of this market is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Heartside-Downtown Grand Rapids occupants. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.