Detroit Office Market Report 1Q26

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.