Q3 2018 Detroit Real Estate Market Report
The Metro Detroit office market’s vacancy rate holds steady at 9.1%. Absorption is positive at just over 325,000 SF. Approximately 387,000 SF of office space was delivered this quarter, with 1.5 million SF currently under construction.
Vacancies in the Metro Detroit industrial market have hovered around 3.2% each quarter since the beginning of 2017. About 1.3 million SF of industrial space was delivered into the market this quarter, with about 7.0 million SF currently under construction. Absorption was positive, coming in at just over 632,000 SF.