The industry's own research.
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By Tony Avendt, Cushman & Wakefield At first glance, Detroit’s industrial real estate market appears to be entering a period of moderation. Vacancy has crept upward, new supply continues to trickle online and recent quarters have posted negative absorption. Yet beneath these headline indicators lies a more complex…
Friedman Real Estate announced the successful onboarding and transition of a 1.2 million-square-foot portfolio of retail, office, and industrial properties throughout Illinois during the first half of 2026. This includes 290,000 square feet on Michigan Avenue, as well as properties in suburbs like Highland Park,…
KALAMAZOO, MICH. — SRS Real Estate Partners has brokered the $6.9 million sale of a single-tenant retail property located at 2103 Parkview Ave. in Kalamazoo. D&W Fresh Market, operated by a subsidiary of C&S Wholesale, occupies the 29,000-square-foot building. Originally built in 1955, the property is situated on…
Marcus & Millichap announced the sale of East Paris Medical Center, a 10,011-square-foot, three-suite medical and professional office in Grand Rapids, Michigan. The property sold for $2.13 million. “Investors were drawn to the property’s strong location and future upside potential, with all tenants currently paying…
SRS Real Estate Partners has completed the $6.92 million sale of a single-tenant grocery property located at 2103 Parkview Avenue in Kalamazoo, Michigan. The 29,000-square-foot freestanding grocery property is situated on 2.33 acres and is occupied by D&W Fresh Market, operated by a subsidiary of C&S Wholesale,…
Newmark has arranged the sale of the 51,795-square-foot retail condominium at 919 North Michigan Avenue along Chicago’s Magnificent Mile. The property is anchored by Louis Vuitton and features a collection of luxury retailers. Newmark Senior Managing Director Keely Polczynski and President of Retail Capital Markets…
CHICAGO — The Shops at North Bridge will undergo a multi-million-dollar reinvestment that will reposition the Michigan Avenue property at the gateway to Chicago’s Magnificent Mile. The multi-phase restoration will introduce a new street presence, hospitality-inspired interiors and a reimagined mix of retail and…
CHICAGO — Newmark has brokered the sale of a 51,795-square-foot retail condominium at 919 N. Michigan Ave. along Chicago’s Magnificent Mile. Louis Vuitton is the anchor tenant and has occupied space at the property for more than 20 years. The luxury retailer recently completed a renovation and expansion of its…
Skender has started the 500 N. Michigan Avenue adaptive reuse project, a transformative conversion of a 400,000-square-foot office tower into 320 residential units on Chicago’s Magnificent Mile. Developed by Connecticut-based Commonwealth Development Partners and designed by GREC Architects, the 24-story building…
CHICAGO — Skender has begun construction on the 500 N. Michigan Ave. adaptive reuse project, which will convert the 400,000-square-foot office tower into 320 apartment units on Chicago’s Magnificent Mile. The project team includes Connecticut-based Commonwealth Development Partners and GREC Architects. Completion…
ROCHESTER HILLS, MICH. — Rally House has signed a 17,542-square-foot retail lease at Winchester Center in Rochester Hills. Greg Newman and Jason Orow of Keystone Commercial Real Estate arranged the lease. The center is home to retailers such as Dick’s Sporting Goods, Burlington and Marshalls. Rally House continues…
Announces expansion to its five-year capital investment plan to support power delivery
The cold storage warehouse in Boyle Heights that burned for nearly a week in June is drawing pests to the neighborhood due to spoiled food sitting in the facility's shell. The 500K SF warehouse at 1400 S. Los Palos St. is operated by Michigan-based...
BAY CITY, MICH. — Alpine Realty Capital, a member of Hotel Brokers International, has arranged the sale of the DoubleTree Hotel and Conference Center by Hilton in Bay City. Alpine negotiated pricing and terms on behalf of the buyer and assisted in all aspects of due diligence, including appraisal and environmental…
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Consumers say they feel worse than they did in 2008 and are spending like nothing is wrong. The Michigan sentiment index set a record low in May, the same month retail sales reached the top of their trailing year. The question for anyone in commercial real estate (CRE) reading the consumer is which signal to…
Wixom officials refuse request as developer eyes three-building campus
DETROIT LAKES, MINN. — Marcus & Millichap has brokered the sale of a 45-room Country Inn & Suites hotel in Detroit Lakes, a city in northwest Minnesota. Joseph Ferguson, Jon Ruzicka, Reed Gizinski and Brock Banken of Marcus & Millichap represented the seller, DL Hotel Group LLC, and procured the South Dakota-based…
DAVISON, MICH. — Marcus & Millichap has brokered the $5.8 million sale of a 50,017-square-foot medical office property in Davison, a suburb of Flint. The two-suite office building is situated on 3.3 acres at 1515 Cal Drive. Built in 2003, the property is fully occupied by McLaren Health Management Group and The…
CPC Mortgage Company, a subsidiary of The Community Preservation Corporation, has structured a $42.1 million loan for the preservation and rehabilitation of Parkside Estates and Demby Terraces, a 315-unit affordable housing community in Inkster, Michigan. Developed by Good Housing Partnership in partnership with…
The number of major metros where you can buy a luxury home for less than $1 million is down five from eight last year. Detroit is the most affordable metro for luxury homes, with a median price of $719,252—47.7% less than the typical luxury home nationwide, $1,374,470. San Francisco is the most expensive, with a…
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Sherwin-Williams property located at 3730 Jennings Road in Kalamazoo, Michigan for $2,469,000. The 3,500-square-foot building was constructed in 2025 specifically for Sherwin-Williams and sits on 1.17 acres…
WEST BLOOMFIELD, Mich. — Blueprint has arranged the sale of a 52-unit assisted living and memory care community located in West Bloomfield in metro Detroit. Originally constructed in 2000, the property… The post Blueprint Arranges Sale of 52-Unit Assisted Living, Memory Care Community in Michigan appeared first on…
This is a first-quarter 2026 office market report for the Detroit metropolitan area published by Colliers. The report covers the office sector in the Detroit, Michigan market.
This is a first-quarter 2026 retail market report published by Colliers covering the Metro Detroit area in Michigan.
The U.S. office market is showing a selective recovery with shrinking inventory and declining availability, but demand remains concentrated in highest-quality assets and strongest locations. Trophy and class A buildings command an average rent premium of approximately 50% over class B space, while leasing activity remains 21% below pre-COVID averages nationally, though some markets like Manhattan and San Francisco have returned to or exceeded pre-pandemic leasing levels.
The Detroit industrial market experienced rising vacancy and negative absorption in Q1 2026, with the vacancy rate reaching 4.1%—the highest since 2015—while net absorption totaled negative 829,000 square feet driven by slower leasing activity and increased move-outs. Overall net asking rents increased 2.1% year-over-year to $7.40 per square foot, the highest rate since Q4 2023, though new leasing activity surged 57.8% year-over-year to 2.3 million square feet, signaling potential future demand recovery.
The Detroit office market in Q1 2026 recorded a 19.2% overall vacancy rate and positive net absorption of 328,000 square feet for a second consecutive quarter, with asking rents averaging $20.24 per square foot across all property classes. The Detroit Central Business District submarket saw the highest rent growth at 43.2% year-over-year to $35.80 per square foot, driven primarily by completion of the Class A Hudson's Detroit building where General Motors opened a 200,000-square-foot headquarters.
Metro Detroit's industrial vacancy rate declined 20 basis points to 4.4% in first quarter 2026 as the market absorbed 2.1 million square feet, with Southeast Oakland County experiencing a surge in demand following GM's retooling of Orion Assembly from EV to gas-powered vehicle production. The report documents major tenant activity including Lear Corporation's 346,182 SF lease and Piston Automotive's completed 715,012 SF build-to-suit, while highlighting that Detroit MSA unemployment rose to 5.3% in January 2026 and manufacturing employment posted a 2.8% year-over-year gain despite overall payroll employment declining 0.20%.
This is a quarterly industrial sector data report published by CBRE on March 31, 2026, presenting figures for the Detroit market in the first quarter of 2026.
This is a quarterly data report on the Detroit office market published by CBRE in March 2026 covering Q1 2026 figures.
The document analyzes Detroit's office market in the first quarter of 2026, reporting a 21.5% vacancy rate with only 6,656 square feet of net absorption and leasing activity of 757,000 square feet across 173 deals, both falling significantly below the 25-year quarterly averages of 1.67 million square feet and 327 transactions. Key economic findings include Detroit MSA unemployment rising to 5.3% in January 2026 from 4.7% the previous month with year-over-year payroll employment declining 0.2%, while office-using employment fell from 539.4 thousand in September 2025 to 520.5 thousand in January, and average asking rent increased to $21.24 per square foot with 2.14% year-over-year growth.
This is a quarterly market report on the industrial sector in the Metro Detroit region, published by Colliers in the first quarter of 2026.
The Q4 2025 U.S. industrial market report by Avison Young states that national vacancy held flat for two consecutive quarters for the first time in the post-COVID cycle, with vacancy plateauing at 9.3% and net absorption reaching 54.9 million square feet, the highest level since Q1 2023. The report indicates that inventory under construction increased 2.0% as developers resumed activity after a pullback, leasing volumes surged 10.2% above pre-COVID averages, and industrial investment volume exceeded $96 billion, with stronger-than-expected demand in the second half of 2025 driven by clarity on trade policy and manufacturing investment tied to OBBBA incentives.