Office space in downtown Grand Rapids, Michigan, became more popular during the first six months of 2014. Several buildings were bought and sold, and the owners of some buildings announced remodeling and/or repurposing plans. As a result, downtown Grand Rapids has been experiencing a minor boom and a rise in leasing rates.
According to one real estate firm president who specializes in real estate in the downtown Grand Rapids area, business is better than he has seen it during the whole of his 17-year career. A 2014 mid-year report published by the Alliance of Commercial Realtors indicates that the number of new leases on office space experienced an 11.5 percent jump during the first half of 2014. The report also indicated that sales transactions increased by 45 percent.