How Can Troy, MI Recover From its High Office Vacancy Rate?

How Can Troy, MI Recover From its High Office Vacancy Rate?

I’ve lived in Troy, Michigan for most of my life. If you ask me, it’s a great community with great amenities. Last year, Troy High School was listed as one of the top 20 best high schools in the United States. We have great shopping – people come from miles around to shop in Troy. These days, houses in Troy sell in hours, not months. The city on its own has many an accolade. And yet, our office vacancy rate still exceeds 30%. I remember a time when our vacancy rate was less than 6%. What happened? Many moons ago, we lost EDS on Tower Drive, and since then, things have gone downhill. We have a constant shift of firms moving from one office to another within the city, but we still need something more.

If you are interested in leasing office space in Troy, or simply want a copy of CoStar’s latest market report, please send us an email, and we’ll be sure to send one over right away. I believe in Troy – and I believe we can get back to that 6% (or under) vacancy rate. The city just needs a breath of fresh air.

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