In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting Michigan markets to keep you in-the-know.
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Industrial Market on the Upswing in Grand Rapids
Western Michigan’s industrial market is experiencing improvement with declining vacancies and steady rental rate growth. Demand for warehouse space is up and more than 1.5 million square feet of space has already been delivered this year.
Of all the projects in the pipeline, a recent one includes a two-building industrial site recently approved by the Michigan Strategic Fund (MSF). The potential project, led by the DEG Development Company, is expected to generate $12.3 million in investment. Construction will take place at 1810 Turner Ave. and will include one 70,150-square-foot building and one 126,750-square-foot building.