10/20/2026
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Downtown Grand Rapids’ office vacancy rate has ticked down to 12.6%, the lowest level since 2022, as roughly 275,000 square feet of aging office space is being converted to apartments and hotel rooms.
The relatively healthy downtown office market can be attributed to several factors, including four major conversion projects in various states of development, local companies expanding downtown, and that Grand Rapids historically does not overbuild.
One of the office conversions was completed this year, one is under construction and the other two projects have been proposed.
The conversions are also lifting the downtown commercial real estate market by converting struggling class B office space.
The 12.6% vacancy rate across the 6.3 million square feet of downtown office space is still higher than in 2019 when it was 9%, but is trending down from the 15% it was hovering around post-COVID.
Read more here: https://www.crainsgrandrapids.com/real-estate/commercial/cgr-conversion-projects-help-downtown-grand-rapids-office-market-202610/?utm_source=facebook&utm_medium=soc-own
