On average, listings lease in the $20's per square foot per year. The Heartside-Downtown Grand Rapids submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $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 region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 10 listings have been posted online, which means listings are probably 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 3,370 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are around 5 floors. Most buildings in this area were built in 1873 and are Class Class B.
A large portion of this region 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.