Downtown Detroit Office MarketView Q4 2019

04 feb. 2020

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  • With over 2.3 million sq. ft. of net positive absorption since 2010, Downtown Detroit commands higher lease rates than most of Detroit’s suburban submarkets. At $23.72 per sq. ft. gross at the end of Q4 2019, Downtown Detroit asked $5.32 more than the suburban average asking lease rate.
  • In Q4 2019, Downtown Detroit’s vacancy rate was 12.1%, while the suburban market had an overall vacancy rate of 18.4%.