3264 North Evergreen Drive NE, Grand Rapids, MI

Property Type Office - Medical Office
Property Size 26,787 SF
Lot Size 2.4 Acre
Parking Spaces Avail. 123
Parking Ratio 4.60/ 1,000 SF
Property Tenancy Owner Occupied
Building Class A
Year Built 2003

Location

Map
Street

City Grand Rapids, MI
Neighborhood Grand Rapids
Zip Code 49525
Market Grand Rapids

Contacts

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Owner

True Owner

Tenants

Suite Name	Tenant	Leased Space	Rent Price	Lease Type	Space Type	Lease Term
370 17th Street #5500	MERRILL, (303) 446-5500	23,824 SF	$23/SF/YR	Modified Gross	General Office	11/01/2014- N/A
370 17th Street #6000	Morrison & Foerster, (303) 592-1500	10,710 SF	$26/SF/YR	Full Service	General Office	08/01/2013- 07/31/2023

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Documents

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Sales

Purchase Price
Arm's Length True
Buyer Name

Mortgages

Current Lender
Loan Amount
Loan Origination Date

Market Trends

Average Actual Rents in Grand Rapids

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Current Average Rent

Net Rent

$44.3/SF/YR

Recoverables Show detailsHide details

$16.7/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 (SF)

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Tax

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Frequently Asked Questions

What is the total square footage of 3264 North Evergreen Drive NE?

3264 North Evergreen Drive NE totals 26,787 square feet.

When was this property built?

3264 North Evergreen Drive NE was built in 2003.

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3264 North Evergreen Drive NE, Grand Rapids, MI 49525 - Office Space

3264 North Evergreen Drive NE is located at 3264 North Evergreen Drive NE in the Grand Rapids neighborhood, MI, Grand Rapids, 49525. The Class A Office building was completed in 2003 and features a total of 26,787 SF.

There are 51 office spaces for lease in the Grand Rapids neighborhood, totaling 195,052 SF of available office space. The office space availability for the 49525 zip code is 45,211 SF, in 15 office spaces. The average asking office rent per SF in Grand Rapids is $18.5/SF/YR. For Class A office buildings the average office rate is $17.11/SF/YR, for Class B office buildings the average office rate is $19.14/SF/YR, for Class C office buildings the average office rate is $14.35/SF/YR.

In Grand Rapids, there are 11 class A office buildings. In 2003, the same year 3264 North Evergreen Drive NE was built, 31 more commercial properties (office, industrial, retail) over 50,000 square feet were built in Grand Rapids, featuring 148,083 square feet of commercial space. At zip code level, there are 5 commercial properties, of which 5 are office buildings over 50,000 square feet.

3264 North Evergreen Drive NE