Detroit industrial market slows amid EV pullback, but outlook improves for 2025 bounceback
The Detroit industrial market ended 2024 with continued signs of moderation as vacancy rates rose slightly to 4.9%, reflecting a softening in demand over the past year. The ongoing pullback in electric vehicle (EV) investments by automakers has dampened occupier demand in some areas, though steady interest in smaller-to-mid-sized spaces persists. Despite these challenges, Detroit’s industrial fundamentals remain stronger than those of many other regional markets, bolstered by its historical role in automotive production and a skilled labor force.