Elegance by IndusPAD 450 Grant St

The IndusPAD - Elegance Professional Offices are located at 450 Grant Street in Akron, Ohio. The two-story professional office building features a contemporary design with professionally manicured landscaping and a stunning atrium. Tenants enjoy ample natural light throughout the building thanks to the expansive oversized windows, a modernized security system updated in 2021, plenty of parking on the spacious 2.29-acre lot, and a state-of-the-art fiber network internet service. Built in 1973, the Professional Offices have been meticulously maintained since its construction. Since then the building was renovated in 1996 and has seen additional improvement, including two-thirds of the roof being replaced in 2021. There are currently three tenants in place, occupying approximately 83% of the space. 450 Grant Street is positioned just on the edge of the University of Akron's campus downtown. This prime location benefits from superb access to I-76, I-77, and OH-8. Additionally, the downtown location provides tenants with abundant shopping and restaurant options nearby. The surrounding community boasts impressive demographics with a population of 230,244 and an average household income of $54,542 within a five-mile radius of the property. Daytime employment within five miles is 137,235, with approximately 10,298 businesses. Market Information: The Akron Submarket in Akron is an extremely large submarket that contains roughly 27.6 million SF of office space. The vacancy rate has been essentially unchanged over the past year. There is about 170,000 SF underway in Akron, the most space under construction in more than three years. This represents a continuation of new development in the submarket, which had already seen 130,000 SF deliver over the past three years. Office properties traded with regularity last year, consistent with the generally high level of activity over the past three years.