Detroit Ann Arbor Retail Market Report Q1 2022
The Metro Detroit retail market posted positive net absorption for the fifth consecutive quarter signaling resilient consumer demand.
- Net absorption totaled 378K SF, remaining
positive for the fifth straight quarter, keeping
vacancy rate at 5.1%.
- The Macomb submarket saw the most leasing
- Year over year rent growth of 8.6%.
Retail Market Holding Steady
Despite workforce shortages, supply chain delays, and soaring inflation, Metro Detroit’s retail market is holding steady. For the fifth consecutive quarter, the market has posted positive net absorption, most recently 378,477 square feet. Vacancy remained unchanged at 5.1% from the previous quarter and the overall asking rate of $15.54 NNN increased 8.6% year over year.