Page 11 - 2019 Colliers Forecast Book
P. 11

Colliers International | West Michigan  11

          Offi ce Buy/Hold/Sell Recommendations                  Kent County Offi ce Market Activity
          Source: Emerging Trends in Real Estate 2019 Survey    Source: Colliers International | West Michigan Research

                                                                 120                                          60%
           MEDICAL   OFFICE                                      100                                          50%
                                                                 80                                           40%
           SUBURBAN   OFFICE  BUY   HOLD                  SELL   Transactions  60                             30% % of Total Market Activity

           CENTRAL   CITY OFFICE  BUY      HOLD           SELL   40                                           20%
                                                                    2Q17     3Q17     4Q17    1Q18     2Q18     3Q18    4Q18  0%
          0%      20%       40%       60%       80%      100%         Leases  Sales  % of Total Market Activity

          The medical community on East Paris, informally known as  Also taking place in 2019 on the city’s west side is the
          “Medical Mile East”, has continued to grow. The three-building  construction of a new $20 million Consumers Energy building
          Heritage Pointe development has been completed within the  at 501 Alabama Street just off Bridge Street. The six-story
          last few years and was leased to Mercy Health, Foot and  building will house more than 275 employees, and according
          Ankle Specialists, West Michigan Eye Care Associates, and  to a company press release, “shows continued commitment
          Total Health Chiropractic. A fourth medical building nearby  to a prosperous, growing Grand Rapids and West Michigan
          will house Bengtson Center, which is moving from the Woman’s  region.” The building is expected to be completed by early
          Health Center in 555 MidTowne Street, near downtown.  2020.
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