Average commercial office space rent is about $20 to $25 per square foot in downtown Ann Arbor right now. [McKinley CEO Albert Berriz] said it needs to reach about $40 to $45 to justify new development.That might not be too far off.
Wednesday, May 27, 2015
The Freep has ran a story last week about the lack of commercial office space in Downtown Ann Arbor. The piece focuses on Google's announcement recently that they will be moving their Ann Arbor offices from the Google Building to a new local HQ north of the city center. New tech companies have been gobbling up much of the available downtown office space, leaving growing companies little choice other than moving out of downtown. Will we see the downtown construction trend shift away from luxury student high rises?
Posted by Ben Connor Barrie at 11:39 PM