Unlike other commercial real estate sectors that are struggling to recover from a year of pandemic shutdowns and supply chain disruptions, Detroit’s industrial sector has rebounded strongly. Due to the region’s world-class logistics infrastructure, it was able to provide just-in-time e-commerce-related warehousing and shipping during a period of immense growth ...
Category: Market Reports
August 10, 2021Lynn Drake
The second quarter of 2021 has seen limited movement in the office market report. As Michigan’s vaccine rollout has slowed, renewed spikes in Covid-19 cases have supported employees’ arguments to continue working from home, which means that lots of valuable office space continues to sit empty. With significant employers like ...
July 19, 2021Lynn Drake
June 11, 2021Lynn Drake
The first quarter of 2021 wrapped up one of the most unusual years in recent memory. While the Covid-19 pandemic continued to impact development in Detroit, which is decelerating, particularly because of the region’s historical reliance on industries like manufacturing, the announcement of a vaccine began to improve future outlooks. ...
May 1, 2021Lynn Drake
After being hit by one the fastest and deepest drop-offs in employment in its history, Detroit's economy has rebounded at a faster rate than other comparable metropolitan regions. Sales prices for industrial real estate remain significantly less expensive in Detroit versus the national average. Ecommerce and Logistics drove recent demand, ...
April 1, 2021Lynn Drake
The third quarter of 2020 has been a difficult time for the office market. The number of vacant offices is expected to increase throughout 2020 and 2021. This is due to the decreasing demand for traditional office space, as well as the high unemployment rate in this sector. After COVID- ...
December 4, 2020Lynn Drake
The third quarter of 2020 has been relatively stable for the Detroit industrial market. Despite enduring the coronavirus pandemic, year-over-year net absorption was over 1.5 million SF in Q3, and the vacancy trend has remained flat. This is likely because industrial facilities that supply to essential businesses were allowed to ...
November 20, 2020Lynn Drake
The success of medical offices in the third quarter of 2020 was very unstable. Each month, the vacancy rate, availability rate and percent leased rate changed drastically. This is likely because of the economic effects of COVID-19, but also because of the need for medical facilities. In order to treat ...
November 13, 2020Lynn Drake