Detroit 2019 Q3 Office Market Report

Savills Detroit Q3 Market Report

Market fundamentals tighten, but options for tenants remain plentiful in most areas 

The Detroit market witnessed overall office availability tighten in the third quarter. The region stood at 20.3% available at the end of the third quarter, exhibiting a 110-basis-point decrease over the prior year. Class A availability declined less markedly, falling 40 basis points to 19.0%. Options were slimmest in the Royal Oak and Ann Arbor submarkets, where availability rates stood at 6.8% and 9.6%, respectively. Meanwhile, conditions were considerably more favorable to tenants in the Bloomfield submarket, where availability eclipsed 25.0%. Within the City of Detroit, availability stood at 18.7%, exhibiting a 20-basis-point drop from one year prior.

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