On average, listings lease in the $20's per square foot per year. The Heartside-Downtown Grand Rapids submarket is seeing a a rise in rates. In the last 3 months, the median rate went up $2 per sqft per year. That's a 10% increase in rent.
Compared to the rest of the Grand Rapids market, the Heartside-Downtown Grand Rapids region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 16 listings have been made available, which means listings most likley are going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 950 sqft. Most properties in this area are close to 5 stories. Most buildings in this region were built in 1890 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 area. Commute by car is the most popular way to get to work amongst Heartside-Downtown Grand Rapids folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.