Real Estate Forecast On Tap

    GRAND RAPIDS — Grubb & Ellis/Paramount Properties will hold its commercial real estate forecast breakfast Wednesday at Loosemore Auditorium in the Richard M. DeVos Center on the downtown campus of Grand Valley State University.

    The annual breakfast, set to get underway at 7:30, is co-sponsored by the GVSU Seidman School of Business.

    Scott Morgan, Matt Williams, Duke Suwyn and Kris De Pree, all of Grubb & Ellis/Paramount, will give a local forecast for the office, retail, industrial and Lakeshore markets, respectively.

    Bob Bach of Grubb & Ellis will offer a national economic forecast, while Hari Singh of GVSU will do the same for the West Michigan region.

    Attendees will receive a 42-page forecast, which provides an overview of the Great Lakes region and a look at nine markets within that region including West Michigan. A few of the local real estate projections for the year are:

    • The retail market should continue to show strength in land sale demand and prices.
    • The investment market should have a strong demand, but a limited supply.
    • The office market should continue to struggle due to corporate downsizing and an uncertain economy.
    • The industrial market should face a high vacancy rate and negative absorption.

    Parking will be available in the DASH West lot at Winter and Pearl, and in the Watson Lot at Watson and Winter. Seating for the event is limited. For more information call Grubb & Ellis/Paramount at (616) 774-3500.           

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