The Detroit office market has struggled to recover amidst the ongoing Covid-19 pandemic. Although many companies prepared to return to business as usual following the arrival of vaccines, Michigan’s failure to reach a herd immunity rate of 70% (only 50% of Michigan residents are vaccinated) and the emergence of the ... Read More
26
Oct2021
10
Aug2021
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 ... Read More
19
Jul2021
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 ... Read More
01
May2021
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. ... Read More
01
Apr2021
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, ... Read More
15
Mar2021
In the last quarter of 2020, Detroit Metro was still struggling with office vacancy rates well below the historical average at 11%. Due to COVID-19 restrictions, most office buildings have been empty since March 2020, and they continued to remain empty in the Q4 Office Market Report. Additionally, many companies ... Read More
04
Dec2020
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- ... Read More
20
Nov2020
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 ... Read More
13
Nov2020
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 ... Read More