Page 19 - 2019 Colliers Forecast Book
P. 19

Colliers International | West Michigan  19

                                                                                  As Holland continues to

                                                                                  evolve and grow, so does
                                                                                  demand for additional

                                                                                  housing. In fact, over the
                                                                                  last decade almost no

                                                                                  units have been added
                                                                                  to the market, which has

                                                                                  fueled demand.

                                                           Holland Tower Clock Building

          Over recent years, Holland has continued to transform  and X-Golf. This has also resulted in retailers fi nding creative
          through its thriving automotive and furniture industries and  uses for space and offering experiences that keep customers
          new and exciting developments taking shape downtown. In  engaged throughout their shopping experience. X-Golf, for
          2018, there was activity across all sectors, with transactions  example, offers six golf simulators, a 1,500-square-foot lounge
          totalling 1,626,906 square feet of real estate and 81 acres of  and private event space to accommodate up to 86 guests in
          commercial land. The average rental rate for industrial leases  its store. We expect more retailers to follow this trend in the
          was $3.82 per square foot, retail was $12.18 triple net  coming year as they look for unique ways to enhance in-store
          (NNN) and offi ce was $14.89 modifi ed gross. Heading into  shopping experiences and keep consumers in stores longer.
          2019, low supply rates mean rental rates remain strong and
          are still pushing upwards.                           Also on the retail front, Blain’s Farm & Fleet announced it
                                                               will break ground on a 106,000-square-foot location on the
          Holland has always been a Lakeshore destination for tourism,  southeast corner of U.S. 31 and Quincy Street in Holland
          locally owned businesses and unique restaurants. As the area  Township this year. The location is slated to open in the fall of
          grows, it has attracted national retailers including Chick-fi l-A  2019 and will create over 100 jobs.
   14   15   16   17   18   19   20   21   22   23   24