Detroit Office Market
Average Asking Rent (Price/SF) | $20.89 |
Vacancy Rate (%) | 22.7% |
Net Absorption (SF) | (500,827) |
Metro Detroit’s office market vacancy rate climbed 70 basis points to 22.7% during the second quarter of 2025 as 500,827 SF in net vacancies were added to the market. Year-to-date, the market’s added 538,648 SF of net vacant space. The Detroit CBD vacancy rate increased by 150 basis points to 21.2% during the second quarter of 2025. Large new vacancies were added at 150 W Jefferson Ave and 600 Woodbridge St. The suburban office market vacancy rate rose by 40 basis points to 23.2% in the second quarter, with 258,761 square feet of net vacant space added to the market.
Download Detroit Office Market Report 2Q25Detroit Industrial Market
Average Asking Rent (Price/SF) | $7.44 |
Vacancy Rate (%) | 4.8% |
Net Absorption (SF) | (795,000) |
The Metro Detroit industrial vacancy rate rose by 20 basis points to 4.8% during the second quarter of 2025, with just over 795,000 square feet of net vacant space added to the market. Plant closures from companies including Akasol, Inc., Sherwood Food Distributors, US Farathane, Adept Plastic Finishing, Inc., and Quality Metalcraft, Inc. contributed to the increase in vacancies. Leasing activity in the industrial market continues to decline, reaching its lowest level in more than 20 years.
Download Detroit Industrial Market Report 2Q25
