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2021 Q1 Office Market Report

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Q1 2021_1536x1040Office

The office market remained subdued in the first quarter as the US continues to recover from the pandemic

The office market remained subdued in the first quarter as the US continues to recover from the pandemic, and many in Michigan are still working from home. However, there is optimism surrounding a safe return to work as our state gets closer to reaching our vaccination goal of 55% of people with at vaccinated against COVID-19.

Key Takeaways

  • The office market in Metro Detroit remains quiet in the first quarter with many still working from home.
  • Office vacancy creeps up in the first quarter.
  • Sublease space at all-time high.
  • Many office occupiers continue to wait out the pandemic before making any critical decisions.

Q1 2021_1024x972Office

2021 Q1 Office Market Report

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Related Experts

Amber Goodwin

Research Manager

Detroit

Market research and administrative professional with a thorough understanding of the industry and local market conditions.  Primarily focused on collecting and interpreting data; reporting analysis in presentation quality, fact-driven reports thereby allowing decision makers to intelligently respond more rapidly to market opportunities. 

 

 

 

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