Q4 2018 Detroit Real Estate Market Report
The Metro Detroit office market’s vacancy rate decreased to 8.9%. Absorption is positive at just over 635,000 SF. There was 148,400 SF of office space delivered this quarter, with approximately 3.0 million SF currently under construction.
Vacancies in the Metro Detroit industrial market have dropped this quarter to 3.0%. Almost 3.6 million SF of industrial space was delivered into the market this quarter, with about 5.2 million SF currently under construction. Absorption was positive, coming in at just over 4.3 million SF.