Skip to content
Homepage
  • Market
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Events
  • Sector
    • CRE
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Advertise
  • Real Estate Awards
  • Login/Register
MichiganIndustrial

How low can the industrial vacancy rate go in West Michigan?

Dan Rafter October 21, 2018
Share on Facebook Share on Twitter Share on LinkedIn Share via email

How strong was the industrial market in the West Michigan region in the third quarter? NAI Wisinski of West Michigan, in its latest report, said that the industrial vacancy rate stood at 1.6 percent during the quarter.

And that’s just an overall rate. Specific submarkets of the Grand Rapids, Michigan, area saw even lower industrial vacancy rates.

The Southwest submarket, for instance, had an industrial vacancy rate of 0.2 percent in the third quarter, according to NAI Wisinski. And in the Northeast submarket, the rate was 0.5 percent.

Not surprisingly, the industrial market here saw several big deals in the quarter, according to NAI Wisinski. As an example, a.j. Veneklasen broke ground in August on a 113,600-square-foot addition to an industrial park at 5300 Broadmoor Ave. SE in Kentwood, Michigan. Three tenants are planning to move in, a maker of electronic components, a printer and a bearings manufacturer. The $6.5 million project is expected to be completed by the spring of 2019.

Arcanum Alloys, a Silicon Valley, California-based alloy maker, is moving to 4460 44th St. SE in Kentwood. The company is investing $693,000 in what will serve as its new headquarters and research-and-development center. The move will create 25 jobs.

TGW Systems, a warehouse automation manufacturer, invested $2.5 million in a vacant industrial building in Norton Shores, Michigan. The 170,000-square-foot building at 1300 E. Mt. Garfield Road should be fully occupied this month.

Finally, Hudsonville Ice Cream expanded its facility, creating 25 new jobs. The $1.5 million expansion is located at 345 E. 48th St. Renovations includle a new test kitchen and pilot plant that will allow Hudsonville to create more flavors.

 

Tags
Grand RapidsindustrialKentwoodMichiganNAI WisinskiWest Michigan
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
IllinoisMultifamily

Adaptive reuse of former Ravenswood Sears store completed

March 4, 2021
IllinoisOffice

Illinois Policy signs lease at 300 South Riverside in downtown Chicago

March 4, 2021
IllinoisMultifamily

Interra Realty brokers sale of 32-unit apartment complex in suburban Westmont

March 4, 2021
IllinoisOffice

J.C. Anderson completes 65,000-square-foot Loop office renovation

March 4, 2021

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Advertise
  • Office Locations
© 2021 REjournals.com