For the 27th consecutive quarter, net absorption remained positive. There was over 793,000 sq. ft. of absorption in Q4 2017.
The average availability rate decreased slightly from 4.3% to 4.0% quarter-over-quarter. This is the 4th straight quarter ithas been below 5%.
With the availability rate so low, speculative construction projects grew to 1.6 million sq. ft.
The average vacancy rate dropped to 2.1%. This is the fourth quarter in a row that the vacancy rate has remained below 3%, an all time low for the metro Detroit market.