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200 Ottawa Avenue Northwest...

Updated Nov 27, 2024

CBRE Expands Grand Rapids Office In Lease Deal At 200 Ottawa Avenue Northwest
LEASEDOffice

CBRE Expands Grand Rapids Office In Lease Deal At 200 Ottawa Avenue Northwest

200 Ottawa Avenue Northwest Grand Rapids, MI 49503, USA

Building Size

4,350 SF

Asset Type

Office

Closing

Sep 5, 2023

About this deal

AI

The recently completed lease transaction in Grand Rapids, Michigan involved an office space located at 200 Ottawa Avenue Northwest, Suite 110. The property spans a total of 4,350 square feet, providing ample room for the tenant, CBRE, to expand their operations in the city's central business district.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 200 Ottawa Avenue Northwest, Suite 110
  • Market: Grand Rapids, Michigan
  • Tenant: CBRE - Paul Van Devender
  • Landlord: CWD Real Estate Investment - Dan DeVos

CBRE, represented by Paul Van Devender, has chosen to relocate their Grand Rapids office to the newly leased space at 200 Ottawa Avenue NW, Suite 110. This move signifies an expansion from their previous 1,444 square feet to a more generous 4,350 square feet. The new office space has been designed with a modern aesthetic, promoting collaboration and flexibility. It features conference rooms, free-address seating, and ample natural light, providing a conducive environment for CBRE's operations.

Players

CBRE
CBRETenant

Grand Rapids Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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