Archive for the ‘Real Estate Market Trends’ Category
Covid 19 and Commercial Real Estate in Michigan
Since the outbreak of the coronavirus in the US, the commercial real estate needs of US businesses have been evolving. The obvious trends are that companies are downsizing office spaces or shuttering retail locations. This makes sense with employees working from home and students studying online. Markets are seeing shifts in the way businesses and local consumers are interacting (or not) with local real estate.
Rofo.com is a commercial real estate marketplace for businesses who are searching for office space, a retail location, or warehouse space.
Starting this week, we will begin publishing notable small business leasing and demand trends and anecdotes we are witnessing on rofo.com It is not all doom and gloom. In fact, our active monthly users (companies searching for real estate) are now higher than the months leading up to the realization of the pandemic.
For the month of October in Michigan, we have seen an uptick in leasing demand in Grand Haven, Bay City, Saline, Plymouth, and Ann Arbor.
This demand is coming from local retailers, financial services firms, marketers, consultants and manufacturers. These are companies that are seeking new locations driven by changes related and unrelated to Covid 19.
If you are interested in getting more information about our data please contact Rofo. And if you are a Michigan business looking for a new location you may post your real estate requirements on Rofo to see what your options are.