Report | Detroit Office Insight - Q4 2015
While some continue to perceive Detroit as down on its luck, there are plenty of signs the Motor City is ready for a serious comeback—including those coming from its real estate industry.
Detroit’s best investment-grade office properties are seeing investors cash in with capitalization rates between 7 and 8.5 percent and the city’s overall vacancy rate has dropped more than 6 percent in just a 12-month span.
Companies (especially tech) looking for market penetration and value are seeing tempting suburban options pop up that offer readily available parking, discounted rental rates and shorter commute times, forcing them to really think about their next big “city versus suburbs” real estate decision.
Learn more about what’s happening—and what we expect to occur in the coming months—in Detroit’s office market in our Q4 US Office Insight.
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