NAI Wisinski Great Lakes’ Post

Our success is measured by the satisfaction of our clients, and we deeply appreciate it when they share their experiences with us! With a global network of resources and industry-leading professionals, our team’s knowledge of Michigan markets and appraisal of investment property enables large institutions, fund advisors, and private developers the resources to make the most money possible for their assets. Learn more about our services and contact one of our multifamily experts today: https://lnkd.in/eTqnXttc #testimonial #multifamily #apartments #michigan #broker #cre

We wish you and your family a happy Independence Day! Our office is closed in observance of the holiday – see you Monday! #4thofJuly #CRE #Multifamily

In 2023, a record number of hotels were converted into much-needed housing units. This trend is likely to continue, as converting hotels is faster and cheaper than building new apartments, especially in crowded cities. Developers are also looking to reuse office space for apartments. According to RentCafe.com, Lansing, MI is one of the top ten metros for most office-to-apartment conversions (171 units) and Detroit is ranked in the top ten cities for most future conversions (2,377 units). To learn more: https://lnkd.in/eBFv-mir #CRE #CRENews #MultiFamily #Apartment #Michigan

Grand Rapids is the fourth most competitive rental market nationwide, and the second most competitive in the Midwest. Using a rental competitivity index measuring the number of days apartments stayed vacant, the percentage of rentals that were occupied, the number of prospective renters competing for each vacant apartment, the percentage of renters who renewed their leases, and the share of apartments completed this year, RENTCafé determined that finding an apartment in Grand Rapids is more challenging than ever. With the rise of remote work, renters have opted to live in Midwestern cities for affordability and larger living spaces. However, limited inventory and a surge in demand have made it difficult for tenants to find an apartment. Read the full report, here: https://lnkd.in/eCiSD25u #GrandRapids #apartment #rental #multifamily #cre

Exciting news for Grand Rapids, MI! We’re thrilled to share that #GrandRapids has been recognized as one of America’s "Best Towns to Visit in 2024" by CNN Travel! This accolade is a testament to the city’s vibrant arts scene, family-friendly recreation, and beer culture. Not to mention all of the exciting developments on the horizon - the Acrisure Amphitheater, soccer stadium, Grand Rapids Public Museum renovation, and riverfront redevelopment - all of which further enrich the character and creativity of Grand Rapids. As multifamily investment experts, we know that Grand Rapids isn't just a place people want to visit, it's where they want to live. In fact, between 2018-2023, the region experienced a 2.8% growth rate (CoStar Group) and continues to attract people from all over the country. Read the full article here: https://lnkd.in/gMhMuzgh #multifamily #growth #development #investmentsales #michigan

A recent survey conducted by Apartments.com revealed the amenities renters prioritize when searching for their next rental. For most surveyed, in-unit laundry and air conditioning were named as two of the most important amenities. Read more about the results, here: https://lnkd.in/ejnteK5q #renter #apartments #research #propertymanagement #multifamily

After a recent study, RentCafe.com found apartment sizes have increased with a national average gain of 27 square feet from the previous year, and an average unit size of 916 square feet. In Grand Rapids, units have expanded by 80 square feet over the last decade, now averaging 901 square feet. Part of the increase is due to a larger number of two- and three-bedroom units entering the market, though one-bedroom apartments remain the dominating floorplan for new developments. Read more, here: https://lnkd.in/gx7XKqyG #apartments #multifamily #housing #rentgrowth #cre

The latest Yardi Matrix Multifamily National Report shows U.S. multifamily market experienced moderate growth in the middle of the second quarter. The average asking rent has increased for the fourth consecutive month and remains highest in the Midwest and Northwest regions. Read the full market report: https://lnkd.in/gqST9_J5 #midwest #rentgrowth #multifamily #housing #cre

Our team had the opportunity to participate in #DeveloperDay, an event that brings together local leaders, real estate developers, construction firms, and other industry professionals. The event began at Stocking Elementary - one of the ten Grand Rapids Public Schools permanently closed after a district-wide consolidation plan – where we attended informational sessions centered around development incentives and support before touring development sites around Grand Rapids, including the much-anticipated amphitheater. Thank you to The Right Place, Inc. for coordinating this event! It was great to get a first-hand look at the opportunities around the city and connect with local developers. #development #westmichigan #housing #multifamily #cre

Breaking ground in West Michigan! Magnus Capital Partners is kicking off a $60M workforce housing development, HOM Flats at 24 East. This development responds directly to the region’s need for affordable and workforce housing solutions. The three-building property will feature 202 housing units, over 13,000 square feet of retail space, and an onsite childcare center and suites reserved for locally owned businesses. #housing #westmichigan #development #multifamily #cre https://lnkd.in/eDuMUjdQ