Figures

Detroit Industrial Figures Q1 2025

April 2, 2025 5 Minute Read

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•Detroit industrial average asking lease rates held steady, closing the quarter out at $7.25 per. sq. ft.
•52119 Grand River Ave. in Wixom was the lone construction delivery which added 30,000 sq. ft. of industrial product to the market. The current industrial construction pipeline now consists 4 buildings totaling 887,341 sq. ft.
•Multiple large-scale tenant move-outs caused significant negative absorption throughout the Detroit industrial market in Q1. Most notably, Kroger vacated over 700,000 sq. ft. at Metro International in New Baltimore.
•Market vacancy rates experienced a slight jump in Q1, closing the quarter at 3.9%. However, Washtenaw (1.7%) and Macomb (2.7%) posted the markets lowest vacancy rates.
•The overall Detroit industrial availability rates witnessed an increase to 5.2% in Q1. Detroit (7.4%) and Southeast Oakland (8.4%) posted the markets highest availability rates while Macomb posted the lowest at 3.4%.