This Class A Professional Office Building is located in the Central Business District of Traverse City, MI just blocks away from the shores of Lake Michigan. The 15,540 SF building consists of three separate floors which contain private offices, large open workspace areas, board room, conference rooms, kitchenettes, and restrooms on each floor. The building sits prominently at the NW corner of Union St. and State St. Parking is a mix of public on-street parking, private onsite parking, and city surface lot permit parking.
This offering is for a NNN sublease of the space through 2/29/2028. Tenant shall be responsible for all utilities, which will be paid directly to the utility companies. The estimated NNN expenses are $7.36/SF.
North west corner of the intersection of State St and Union St.
Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."
Why are Real Estate Incentives Important and to Whom?
"Incentives" are vital today and in the future because:
U.S. Public: Many incentives focus on job creation and Affordable Housing
Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.