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Regional Summaries

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Detroit, MI

Apartment
The 217,096-unit market-rate, investment grade Detroit apartment market remained extremely tight at the end of 2017 with a vacancy rate of 2.7%, up 30 basis points over the year and up 10 during the quarter. The rate was still 2.7% in January 2018. During 2017, the average asking rent increased 2.6% to $987 per month, with the average effective rent up 3.6% to $947 per month. The overall fourth quarter gains were 0.5% and 0.6%, respectively, and they were followed by gains of 0.3% by both measures in January 2018. VIEW APARTMENT LISTINGS >
Industrial
The 213.2-million-square-foot metro Detroit warehouse/distribution space market had a big year in 2017 with 1.9 million square feet of new supply and 2.1 million square feet of net absorption. The vacancy rate was down 20 basis points over the year and 10 during the fourth quarter to 10.5%. The average asking rent was up a strong 3.7% over the year to $4.23 psf, with the average effective rent up 4.0% to $3.86 psf. The fourth quarter gain was 1.0% by both measures. The vacancy rate was unchanged in January 2018 with the asking average up 0.2%. The 35.8-million-square-foot Flex/R&D market is not as active, with no new supply and 249,000 square feet of net absorption in 2017. The vacancy rate fell 70 basis points over the year, but it was up 10 during the fourth quarter to 14.6%. The average asking rent was up 2.5% over the year to $7.05 psf, with the average effective rent up 2.8% to $6.32 psf. The fourth quarter gains were 0.9% and 1.1%, respectively. The vacancy rate dropped 10 basis points in January 2018 with the average asking rent up 0.1% and the average effective rent up 0.2%. VIEW INDUSTRIAL LISTINGS >
Office
DetroitÂ’s 74.4-million-square-foot general purpose, multi-tenant office market had a good year in 2017 with nearly 1 million square feet of net absorption. The vacancy rate fell 130 basis points over the year and 10 during the fourth quarter, but it is still high at 23.2%. Overall vacancy was essentially unchanged in January 2018. In 2017, the average asking rent increased 1.3% to $19.96 psf, with the average effective rent up 1.4% to $14.95 psf. The fourth quarter gain was 0.5% by both measures, followed by flat rents in January 2018. VIEW OFFICE LISTINGS >
Retail
The 34.4-million-square-foot Detroit area community-neighborhood shopping center market got 307,750 square feet of new supply in 2017, according to Reis, a big year by “new normal” standards, but the vacancy rate was still stable during the year. It was 11.4% in January 2018 and is expected to end the next few years at or near that level. Community-neighborhood center rent gains have been weakly positive since 2013, following five years of effective rent decreases. In 2017, both the average asking rent and the average effective rent increased 0.9% to $17.75 psf and $15.54 psf, respectively. The fourth quarter gains were 0.2% by both measures. A gain of 0.1% for each measure followed in January 2018. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

Coldwell Banker Commercial® Reports

Coldwell Banker Commercial® Blue Book

The Coldwell Banker Commercial® (CBC) organization is proud to present its’ 2017 Year-End Blue Book!

The Blue Book is a helpful market report with information brought to you by the true “on the ground” experts – the professionals of the Coldwell Banker Commercial organization from all over the world.

CBC-affiliated professionals represent one of the largest commercial real estate footprints in the U.S.  The Blue Book brings their local market feedback directly to you with up-to-date commercial real estate research covering 130+ Primary, Secondary, Tertiary & International markets. If you are thinking of investing in alternative markets, the Blue Book is your go-to resource for local commercial real estate market data!

CBC NRT NNN Investment Report

This is a market report that Coldwell Banker Commercial NRT prepared for the CBC Global Conference. This report provides the 2018 forecast of net-lease properties and details why NNN properties remain well-positioned for continued success and growth in the coming months.

The U.S. Gulf Coast & Its Vital Interstate-10 Corridor

CBC Infographics

Shopping In-store vs. Online Shopping

The retail industry is in the midst of epic change and while some predict the end of brick and mortar stores, a recent Coldwell Banker Commercial Affiliates survey conducted online by Harris Poll aimed to explore current shopper preferences and trends to determine the real state of commercial real estate today.

Commercial Real Estate & Technology: The Generational Divide

Infographic that addresses how each generation sees aspects like the adoption, use and importance of technology. Ultimately, each generations’ concerns come down to the impact that new technology will have on the industry.

The Growing Value of Digital Tools

Which digital tools do commercial real estate professionals value most, and what devices are they using to access them, and how are these professionals’ technology habits likely to change in the years to come?

Workers Prefer Dynamic and Efficient Office Space

As employers seek to define the workplace perks most likely to attract and retain employees, a recent Coldwell Banker Commercial Affiliates survey found that the physical office itself could keep staff happier.

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