Detroit office insight - Q2 2018
Vacancies remain low downtown, where the majority of Class A vacancy is inside the Renaissance Center, highlighting just how tight the market is for quality space. Microsoft opened it's new office at One Campus Martius, while other tech companies like Lyft and Spotify have announced plans to enter the market.
In the suburbs, the Society of Manufacturing Engineers moved their world headquarters to Southfield, taking 39,000 square feet in the Southfield Town Center, while Accenture opened an innovation hub in Livonia, where they will occupy a 10,000-square-foot space. Positive rent growth has continued across the market this year even amidst a small upward bump in vacancy as a few large sublease spaces have become available.