Detroit office market fundamentals largely unchanged, but activity continues to be sluggish
The office market across Detroit remained comparatively inactive in early 2022 as the region remained stymied by the effects of the pandemic, work from home, and general uncertainty about companies’ future occupancy needs. Asking rents across much of the market remained flat while tenant effective rents inched lower as landlords have struggled to lease space. Some larger tenants have begun to reengage the market, seeking to capitalize on favorable market conditions and ample quality space options.