Prepared by Michael Grammatico, Senior Sales Executive, CoStar Group, Inc.

Detroit’s industrial market remains relatively tight at 4.9% vacancy, though vacancy edged up 0.3% year over year as new supply outpaced slightly negative absorption. By contrast, the office and retail markets both improved, with office vacancy at 12.0% and retail at 5.2%, supported by 1.1 million square feet and 1.4 million square feet of net absorption, respectively.