Overview

Franklin Partners, in collaboration with Bixby Bridge Capital, successfully acquired a 457,400 SF industrial facility in Holland, MI at 13467 Quincy Street, a move that highlights the ongoing strength of West Michigan’s industrial real estate market.

Summary

The deal was facilitated by Advantage Commercial Real Estate’s Trent Wieringa, SIOR, and Duke Suwyn, SIOR, CCIM, whose local knowledge and industry expertise were key in securing this property. Their combined experience navigating the West Michigan industrial market ensured a smooth transaction process.

This property, operated by Trendway, is set to become the largest available industrial space in the West Michigan market when it opens for occupancy at the end of 2024.

The facility’s strategic features—like efficient dock access, powerful electrical infrastructure, and nearby rail access—make it an ideal choice for forward-thinking manufacturing and industrial enterprises. The property’s expansive 32-acre site also provides ample room for future growth, important for businesses planning long-term investments.

Franklin Partners’ investment in this property is a testament to their belief in West Michigan’s potential. This is no surprise, as West Michigan’s industrial landscape continues to experience strong demand, all while remaining sheltered from many of the negative national trends.

West Michigan Market Health

According to the latest regional data, West Michigan boasts a significantly lower average lease rate of $6.05 per square foot compared to the national average of $10.56. This affordability, coupled with a significantly low vacancy rate of just 1.8%, far below the national average of 6.1%, portrays West Michigan’s high demand for industrial space.

The strength of West Michigan’s industrial sector is further supported by its demographics. A notable 18.7% of Kent County’s workforce is employed in manufacturing, nearly double the national figure of 9.9%, emphasizing a deep-rooted industrial focus.

This data helps to paint a picture of a thriving industrial environment in West Michigan. Businesses can benefit from lower operational costs, a skilled and employed workforce, and a manufacturing sector that is integral to the local economy.

13467 Quincy Street is a prime example of what West Michigan has to offer, providing premier destinations for industrial development, where businesses can thrive in a supportive and growing community. You can find the current listing here: 13467 Quincy Street

Want to learn more about West Michigan’s industrial Market? Read our Q2 industrial market trends here: 2024 Q2 Market Trends