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United States | Detroit, MI

Report | Detroit Office Insight - Q3 2015

Summary

Detroit’s submarkets are in the midst of a tug of war. 

In the urban submarkets, the average asking rent currently stands at $20.08 per square foot, up 5.1 percent from this time last year. Meanwhile, vacancy has steadily decreased year-over-year from 17.9 percent to 14.4 percent today. 

In the suburban submarkets, ownership is more diverse, and although rents are improving, they are appreciating at a slower pace than they are downtown. Suburban rents have increased 3.8 percent year-over-year to $17.91 per square foot. 

 Learn more about what’s happening—and what we expect to occur in the coming months—in the Detroit office market.

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