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United States | Detroit, MI

Report | Detroit Office Insight - Q3 2016

Summary

New construction's coming to downtown Detroit in the form of Little Caesars' new headquarters, the first office building to be built in the CBD since 2006, as market conditions tighten and rents continue to rise.

Since 2012, downtown vacancies are down 6 percent while rents are up more than 15 percent. We see increased sales activity from investors as 2016 wraps up.

Detroit's suburban market is still seeing strength as well, especially within the Class A market. Its Class A market has seen rents rise 10.2 percent since 2014.​

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