Strongest demand in more than three years drives vacancy lower
Detroit's industrial market recorded its strongest quarterly net absorption in more than three years, with 2.1 million square feet (msf) of occupancy gains in Q3 2026. This brought year-to-date absorption to 4.6 msf, a turnaround from the 0.6 msf of occupancy losses recorded during the same period last year. Vacancy declined 40 basis points (bps) quarter over quarter and year over year to 4.9%, its lowest level since Q3 2024 and among the lowest of major U.S. industrial markets. Despite approximately 1.1 msf of new deliveries during the quarter, strong demand helped reduce vacancies and further limit options for large tenants.