The coming months will be definitive for the future of West Michigan’s office sector. Big questions since the COVID-19 pandemic have been, “What will happen as leases expire? Will office users continue to be office users?”
Landlords have been asking these questions, and the answer could lead to significant cutbacks in office usage. Advisors have seen consistent pullback from office tenants as their leases expire, though this appears to impact professions in which face-to-face interaction is less important. This downward trend appears to be offset by the growth of new companies and buyers, many of which are medical-related.
Read more in our market report.