- people on the move
$30M downtown office project starts pre-leasing
A local developer has opened pre-leasing for a $30-million office project downtown.
Olsen Loeks Development is pre-leasing for its Studio Park Office Tower project at 100 Ottawa Ave. SW in Grand Rapids, according to the firm today.
The plan includes a roughly six-story building with 10,000 square feet of ground-floor retail, 75,000 square feet of leasable office space, a rooftop deck with an outdoor kitchen and fireplace, a sky-view fitness center and direct access to a 960-space parking structure.
Jeff Olsen, partner with Olsen Loeks Development, said construction on the office building would commence once the company has solid footing with an anchor tenant. The build would take about 12 months. No contractor has been announced.
Pre-leasing is available through Colliers International West Michigan.
The Business Journal previously reported Franklin Partners was partnered with Olsen Loeks to develop the office portion of Studio Park, but the Illinois-based real estate firm left the project in November 2018 after it was unable to secure enough pre-leasing to break ground on the building.
Olsen previously told the Business Journal Olsen Loeks Development would continue to oversee development of the office portion.
The Studio Park Office Tower would be connected to the Studio Park development, which will open with a movie theatre, music venue, hotel, apartments, restaurants, shops and a piazza around this September.
A residential building with 106 apartments will come online prior to that, with opening slated for late this summer.