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Detroit Ann Arbor Industrial Market Report Q1 2022

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Detroit Ann Arbor Industrial Market Report Q1 2022

The Metro Detroit industrial market vacancy sits at a near all time low. User demand for modern distribution and warehouse facilities is driving development.

 

Key Takeaways

  • Net absorption totaled 1.6M SF, driven mostly by the Monroe submarket.

  • Average asking rates continue to climb, up 9.2% year over year to $6.83 per square foot.

  • 3.6M SF of space was delivered in Q1, with an additional 7.4M SF construction underway.

Limited Availability Continues to Drive Demand

The Metro Detroit industrial market continued to experience strong leasing activity in the first quarter, posting a positive net absorption of 1.6 million square feet Leasing momentum has been most robust in the Airport/I-275 submarket, along critical transportation points. As we look ahead, tenant demand is likely to remain strong keeping vacancy rates tight during the remainder of 2022.


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Detroit Ann Arbor Industrial Market Report Q1 2022

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Katie Rizzo

Senior Research Analyst

Detroit

Katie joined Colliers International in 2013 as an Administrative Assistant to the retail team in the Detroit office.  Katie provides administrative support by processing and maintaining the required paperwork associated with the listing, sale or lease of a property, as well as the production of client deliverables and presentations.

In 2014, Katie became the Colliers University Advocate for the Detroit and Ann Arbor offices.  As the office advocate, Katie is responsible for promoting various classes to continually enhance skills, tools, and service to clients.

Prior to joining Colliers, Katie worked as a Marketing Specialist for an independent residential real estate firm, providing her  a vast knowledge of the Real Estate industry.‚Äč 

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