Detroit Industrial Figures Q2 2026

-Net absorption in the Detroit market totaled negative (674,544) sq. ft. in Q2. A substantial decrease from the positive absorption figure in Q1 and down 185% year-over-year. This quarter ends the four-quarter stretch of positive absorption in the Detroit Industrial market.

-In Q2 2026, the market had 2.8 million sq. ft. under construction across 10 active projects, an increase of 59.7% in total volume year-over-year. Of the 7 active speculative projects, 4 were started this quarter.

-The Industrial market had vacancy rate of 3.6%, up 20 bps from the previous quarter and unchanged from the year-over-year rate in Q2 of 2025. This is also the first quarter of increasing vacancy since Q1 of 2025, predominantly due to the significant amount of large tenant move-outs.

-The market’s average asking rent was $7.94, up 1.2% quarter-over-quarter from $7.85 in Q1 2026 and 0.8% year-over-year from $7.88 in Q2 2025. Q2 marks the first quarter that the average asking rent has eclipsed the previous market peak of $7.88 in Q2 of 2025.

-There was a total 1.3 million sq. ft. of leasing activity transacted, inclusive of all sizes. The leasing volume this quarter is a 59.8% decrease from Q1 and a 12.1% decrease year-over-year.