Market’s fundamentals resilient despite impacts of pandemic as Detroit industrial rental rates nudge up, vacancy remains comparatively tight.
The ongoing impact from COVID-19, including the stringent restrictions that have hamstrung Michigan businesses, have created an environment of considerable uncertainty across all real estate asset classes in Metro Detroit. However, the region’s industrial market has exhibited notable resilience, as evidenced by its robust market fundamentals. Occupiers have remained active in Detroit as market dynamics have shifted and demand for distribution space and labor has only increased.