Lynn Drake

National Market Report

26

Oct2022
As the pool of available sublease space expands and demand has started to weaken again, net absorption has fallen back into negative territory. Uncertainty regarding everything from remote work policies to high inflation and an increasingly aggressive Fed suggests that the office market’s recovery is still some distance in the ... Read More
October 26, 2022Lynn Drake
Industrial Market Report

26

Oct2022
While Detroit’s surge in logistics leasing and construction hasn’t reached the heights of the Inland Empire or Dallas, market conditions continue to favor landlords. With a vacancy rate of 4.6% and leasing just below the all-time high, which was set a year ago, the industrial market continues to grow steadily. ... Read More
October 26, 2022Lynn Drake
Office Market Report

13

Oct2022
While the employment sectors that traditionally use office space are leading the post-pandemic jobs recovery in Detroit, the increase in employment has not resulted in an increase in the use of office space, as many employers continue to offer hybrid or remote work options to meet the preferences of their ... Read More
October 13, 2022Lynn Drake
National Market Report (1)

27

Jul2022
As the pool of available sublease space expands and demand has started to weaken again, net absorption has fallen back into negative territory. Uncertainty regarding everything from remote work policies to high inflation and an increasingly aggressive Fed suggests that the office market’s recovery is still some distance in the ... Read More
July 27, 2022Lynn Drake
Industrial Market Report

27

Jul2022
While Detroit’s surge in logistics leasing and construction might not compare to what’s happening in the Inland Empire or Dallas, it’s nothing to sneeze at. With a market vacancy rate of 4.5% and leasing just below the all-time high, which was set in Q3 2021, conditions continue to look favorable ... Read More
July 27, 2022Lynn Drake
Office Market Report

15

Jul2022
Although office jobs are overwhelmingly responsible for Detroit’s employment bounce back after the pandemic shutdowns, a return to actual office spaces has not accompanied that trend. The ongoing pandemic and workers’ desire for the flexibility of hybrid and work-from-home arrangements have transformed business as usual, and it’s looking more and ... Read More
July 15, 2022Lynn Drake
Daycare

15

Jul2022
In 2005, when I was a planning commissioner for the city of Troy, Michigan, there were no clear rules allowing for in-home daycare. My fellow board members were adamantly opposed to this practice, but as a mom, I couldn’t understand why. At a public hearing on June 29, 2005, I ... Read More
July 15, 2022Lynn Drake
National Market Report

04

May2022
Although the national office market is showing signs of recovery, the impact of the pandemic is far from over. While leasing volume is improving and net absorption was positive by the end of 2021, these numbers remain below pre-pandemic norms. The good news is that even though the amount of ... Read More
May 4, 2022Lynn Drake
Industrial Market Report

04

May2022
While Detroit isn’t leading the country in logistics leasing and construction, industrial market leasing in the Motor City is nothing to sneeze at. With leasing at 5-year high and the vacancy rate of 4.4% near an all-time, the market looks to remain in landlords’ favor for the near future. Although ... Read More
May 4, 2022Lynn Drake
Office Market Report

22

Apr2022
Since I became a commercial broker in 2000, the metro Detroit office market has always had a significantly higher vacancy rate than the rest of the country. Today, although the office market is just starting to stabilize, the national vacancy rate for the U.S. is 12.3%, while Detroit’s vacancy rate is ... Read More
April 22, 2022Lynn Drake