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2020 Q3 Office Market Report

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COVID-19 pandemic slows West Michigan office market significantly 

Many companies continued to keep workers at home in Q3, which maintained the significant slowdown for the West Michigan office market throughout the COVID-19 pandemic.
After a sharp spike in unemployment at the beginning of the pandemic, the number of unemployment claims has lessened in Q3. Because working in an office still poses health risks to workers, many employers have decided to work remotely through the end of the year or the foreseeable future. This means office activity is quiet, with employers and investors operating with wait-and-see mentalities until concrete talks begin about how offices will look once employees can safely return to work.

 
 

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2020 Q3 Office Market Report

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Related Experts

David Wiener

Senior Vice President

Grand Rapids

I bring over fifteen years of commercial real estate experience to Colliers International | West Michigan and am knowledgeable in all aspects of commercial real estate transactions including landlord representation, tenant representation, development, investment, and consulting. My focus is on the West Michigan office market with a strong emphasis on downtown Grand Rapids.

I recently took over the leasing of Bridgewater Place at 333 Bridge St. and in less than 24 months the building has seen over 100,000 square feet of space leased.

 

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Scott Morgan

Senior Vice President

Grand Rapids

 

Throughout my career as a real estate professional, I have maintained my strong client base and reputation for focus on suburban office properties because of the strong relationships I have developed with landlords whom I continue to represent in leasing and sale transactions.

I pride myself on being extremely up-to-date on significant suburban office developments and trends in the West Michigan market.

Focusing on owner-occupant office building purchases, I use a series of analytical tools, and have been very successful in helping many businesses make their first real estate investment by purchasing their own building.

I also continue to devote more energy to the growing medical and health care industry in West Michigan, and have closed over 50 medical transactions in the past 10 years, representing area physicians in both purchase and lease transactions.

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