On average, listings lease in the $20's per square foot per year. The Heartside-Downtown Grand Rapids submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 7% decrease in rent.
Compared to the rest of the Grand Rapids market, the Heartside-Downtown Grand Rapids submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 10 listings have come on the market, which means office spaces most likley are going fast. You'll want to be prepared to tour spaces as quick as possible. 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 3,370 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are around 5 floors. Most buildings in this market were built in 1873 and are Class Class B.
A large portion of this area is residential, but there's plenty of office_space. Manufacturing is the dominant industry in this region. 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.