2020 Q3 Industrial Market Report

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National economy has slowed but West Michigan industrial market hasn't

Good news: The West Michigan industrial market is back in full swing in Q3 after a very brief slowdown due to the COVID-19 pandemic. Despite uncertainty on the impact of the pandemic-related shutdowns, people were more active in the industrial market in Q3 causing more demand for leasing and sale activity leading demand back to pre-COVID-19 levels – if not slightly more active. Q3 showed that most individual users have come through a major crisis in good shape, and that many have flourished. More large national users have entered the market and are focused on solutions for safety and space amid the pandemic.


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2020 Q3 Industrial Market Report

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Related Experts

John Kuiper

Executive Vice President

Grand Rapids

 

With more than 17 years of experience in providing clients with industrial real estate strategies, I have become a leader in the industry and have often been quoted in local and regional publications as a market expert. Consistently a top producer in the Grand Rapids and West Michigan markets, I am the Executive Vice President and Designated Broker of Colliers International | West Michigan.

I have been involved in MCA’s corporate solution transactions in a number of states, as well as in Canada and Mexico.

I quickly understand complex situations, which allows me to maximize potential outcomes for my clients. My extensive knowledge of the industrial marketplace, and the business relationships I have developed across North America have allowed me to close more than $750,000,000 in transactions, representing more than 17,500,000 square feet.

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Trent Wieringa

Vice President

Grand Rapids

After eight years of experience with Colliers International | West Michigan, I have extensive knowledge of property evaluation and a thorough understanding of the industrial marketplace. My ability to develop strong customer relationships and sales initiatives has allowed me to achieve record-setting sales and increase profit margins. I can under complex situations and provide creative solutions for a variety of clients. Having lived and worked in West Michigan my entire life, I have in-depth knowledge, and unique insight into various market segments.

Using the market’s strongest in-house research and marketing teams to gather the most detailed and up-to-date comparables, GIS maps, and targeted client lists, I can find new locations, or market an existing property with success. Teaming with Colliers’ marketing department, I can create custom marketing pieces and specialized events to better present my client’s property.

 

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Steve Marcusse

Senior Vice President

Grand Rapids

In my 15 years advising industrial real estate clients, I’ve learned to put myself in the client’s shoes and help them make decisions as though it was my money and my business on the line. I pride myself on my local market knowledge and my ability to provide my clients clarity so that they can make the best, most well informed decisions possible. I’ve been honored to have served my clients in over 500 transactions, worth more than $500,000,000 and totaling over 7,000,000 square feet.

In 2008, I became the youngest person in the state of Michigan to hold both the CCIM (Certified Commercial Investment Member) and SIOR (The Society of Industrial and Office REALTORS®) designations. I also have served as an expert witness before the Kent County Circuit Court and the Michigan Tax Tribunal, representing a Fortune 500 manufacturing client.

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Tim VanNoord

Vice President

Grand Rapids

Local and international industrial tenants, landlords and investors rely on me to develop and execute creative and effective real estate strategies. For three years, I have been committed to placing my client's interest ahead of my own in the acquisition, disposition, leasing or development of their industrial real estate.

My niche focuses on creating value for warehousing, distribution and manufacturing related companies in my local community of West Michigan and across the United States. These companies range from local family businesses to Fortune 500 corporations. My areas of expertise include site selection, labor analytics, real estate capital markets, structuring and negotiation of lease and sale transactions and construction procurement. I work with C-suite executives, operations specialists and real estate experts in the manufacturing, eCommerce, transportation, logistics, supply chain, construction and ground-up development industries.

My clients rely on my dynamic advisory approach in helping them. This has been shaped by my unique commercial real estate experience in some of the world's largest markets including Boston, Chicago, Los Angeles and Beijing, China.

My notable representative transaction list includes Amazon.com, Stericycle, Shred-It, Hascall Steel, Foremost Graphics Group, Warehousing and Fulfillment USA, All-Phase Electric Supply, Jonas Paul Eyewear and Gateway Industrial Properties, among others.

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Q3 Industrial Market Trends Update