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
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