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City Tower

Off-Market

22 Ottawa Avenue NW, Grand Rapids, MI 49503

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  • Property Type Office - General Office
  • Property Size 310,000 Sqft
  • Lot Size 1.51 Acre
  • Parking Spaces Avail. 1302
  • Parking Ratio 4.20/ 1,000 SF

Location

  • City Grand Rapids, MI
  • Neighborhood Downtown Grand Rapids
  • Zip Code 49503
  • Market Grand Rapids

Contacts

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Owner

  • True Owner
  • Registered Owner

Brokers

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Documents

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Sales

  • Purchase Price
  • Arm's Length True
  • Buyer Name

Market Trends

Average Actual Rents in Grand Rapids

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Grand Rapids Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2020 Avg. Asking Rent $22.54
  • 2020 Office Vacancy Rate 11.83%
  • 2020 Office Completions (Sqft)
View more Grand Rapids market trends

Tax

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Frequently Asked Questions

What is the total square footage of City Tower?

City Tower totals 310,000 square feet.

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