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Metro Detroit 2022 Q1 Office Market Report

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Metro Detroit 2022 Q1 Office Market Report

Class A property was the only segment to post positive net absorption, an indication that employers are focusing on newer spaces with modern amenities to attract and retain employees.

Key Takeaways

  • The amount of sublease space reached its highest level since 2009.
  • Vacancy rates remained steady at 12.5%.
  • Class A property was the only segment to post positive net absorption, mostly in the suburban submarkets.

Office Uncertainty Prevails

The overall vacancy rate in Metro Detroit remains on an upward trend, ending the first quarter at 12.5% Net absorption was negative 193,009 square feet and available sublease space of 2.3M is at its highest level since 2009. Office leasing remains slow as companies evaluate their return to work plans, but many employers are expecting a return to the office in mid 2022.


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Metro Detroit 2022 Q1 Office Market Report

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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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