Detroit Industrial Market: 3Q24 Overview

The Detroit industrial market saw a rise in vacancy rates to 4.2% in Q3 2024, with nearly 1 million square feet of new vacancies. Bulk warehouse absorption is slow, with Class A spaces at a 7.6% vacancy rate, signaling an oversupply. The electric vehicle (EV) industry is driving demand, with major projects like General Motors’ […]

Detroit Industrial Market Report

Market Observations Economy The Detroit Metro’s labor market remains stagnant. May’s 3.9% unemployment rate was up 10 basis points from April levels. Construction continues to lead employment growth fueled by infrastructure funds to rebuild major expressways. Meanwhile, the key manufacturing sector showed employment is 0.6% below May 2023 levels. The trade and transportation sector showed […]

Detroit Office Market Overview

Market Observations Economy The Detroit Metro’s labor market remains stagnant. May’s 3.9% unemployment rate was up 10 basis points from April levels. Construction continues to lead employment growth fueled by infrastructure funds to rebuild major expressways. Meanwhile, the key manufacturing sector showed employment is 0.6% below the May 2023 levels. Financial activities and business and […]