Detroit industrial rents continue to rise

Detroit

• Sensing a shift in economic sentiment and increased demand for industrial properties in the market,

opportunistic owners are looking to exit through disposition for pre-recession prices. Average asking

rents for the first quarter of 2016 were $4.50 per square foot, up 6.1 percent year-over-year. Many still

feel the necessary asking rate to justify speculative construction is closer to $5.00. The Macomb County

submarket and the Airport/I-275 Corridor are especially high demand areas with availability rates of 5.9

percent and 9.1 percent, respectively. Overall, total availability decreased 17.7 percent year-over-year to

9.0 percent. Source: JLL Research

Chart of the week: April 25, 2016

$3.25

$3.75

$4.25

$4.75

2012 2013 2014 2015 YTD 2016

Airport/I-275 Corridor Market average Macomb County

Average warehouse asking rents