Demand for downtown office space is heating up as more people are moving downtown, according to a local commercial real estate agent who crunches the numbers.
Steve Zacher, who owns The Zacher Co., on Thursday released his firm's annual Fort Wayne office market survey.
The study showed a 24 percent decline in downtown office vacancy to 6.99 percent, the lowest in at least nine years and the lowest rate of five city segments.
Local officials have concentrated economic development efforts on downtown in recent years, citing the success of similar-sized cities that attracted and retained talent by reviving comatose city centers.
“There's a lot of really good momentum downtown that we've seen for a few years now,” Zacher said., citing deals announced in the past year.
SIRVA Inc. is moving its headquarters into the Indiana Michigan Power Center, 110 E. Wayne St., bringing more than 400 employees from its current location at the U.S. 30 and Kroemer Road intersection. The global relocation and moving services provider, which operates the Allied and NorthAmerican van line brands, signed a lease for 63,000 square feet of office space on six floors.
© 2024, www.journalgazette.net