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detroit: Newmark Knight Frank - Detroit Industrial Market Report - 1Q10 - 06/22/10 02:15 PM
Conditions in the Detroit industrial market continued to weaken during the first quarter of 2010. Total net absorption was negative for the sixth consecutive quarter as nearly 1.7 million square feet were put back on the market. The vacancy rate increased to 20.0%, the Detroit industrial market high on record since 2000. The average asking rent fell to its lowest point on record to $4.02/sf from $4.04/sf reported during the fourth quarter of 2009. Average asking rents in the Detroit industrial market have remained in the $4/sf to $5/sf range for the past eight years.
The Groesbeck submarket was one … (0 comments)
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detroit: Newmark Knight Frank - Detroit Office Market Report - 1Q10 - 06/22/10 02:00 PM
Weakening conditions prevailed in the Detroit office market during the first quarter as the vacancy rate rose to 24.7% from 24.2% in the fourth quarter of 2009. The vacancy rate has remained above 20.0% for over three years. Total net absorption was negative for the ninth consecutive quarter as 418,407 square feet were returned to the market.
Average asking rents declined slightly in the first quarter to $19.63/sf from $19.67/sf in the fourth quarter and were down 1.7% from $19.97/sf reported one year ago. Rents have declined 15.3% from $22.63/sf, the peak during the fourth quarter of 2000.
In the … (0 comments)
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detroit: Newmark Knight Frank - Detroit INDUSTRIAL Market Report - 2Q09 - 10/01/09 01:55 PM
During the second quarter of 2009, the Detroit industrial market continued to weaken. The third consecutive quarter of negative net absorption has added 7.3 million square feet of space to the market, 5.1 million square feet of which have been added in 2009. The vacancy rate increased to 18.0%, its highest level on record, from 17.1% in the previous quarter. The average asking rental rate fell in the second quarter to $4.25/sf from $4.37/sf reported during the first quarter, and is down 4.0% from $4.43/sf over the last year. Rents have declined 23.9% from $5.59/sf, the peak during the third … (0 comments)
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detroit: Newmark Knight Frank - Detroit OFFICE Market Report - 2Q09 - 10/01/09 01:41 PM
A slight reprieve was seen in the Detroit office market in the second quarter of 2009. After six consecutive quarters of negative absorption, 69,244 square feet of space was removed from the market as the vacancy rate held at 22.5% from the first quarter. The vacancy rate is up from 21.5% one year ago and has remained above 20.0% for the past three years. The average asking rental rate fell in the second quarter to $19.75/sf from $19.90/sf at the end of the first quarter, and is down 2.4% from $20.24/sf over the last year. Rents have declined 12.6% from … (0 comments)
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detroit: CASH IS KING!!! - Unlimited Foreclosure Opportunities in Michigan! - 12/17/08 09:29 AM
This may be a slightly different approach, but it makes sense.
There are so many unbelievable opportunities in the Detroit metro, commercial real estate market, it is simply staggering. The problem is, no one, has any money.
Here's what I'm looking for:
Out-of-state commercial property buyers Companies looking to expand facilities Investors looking for opportunities at pennies on the dollar Financial institutes looking for solid assets For the time being, the opportunity areas far out weigh the many areas of the Detroit market that are on an upswing. I'm not sure how long these favorable circumstances will last, so I recommend … (4 comments)
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detroit: Metro Detroit - Novi Area - Client Requirement - 2,500 to 3,500 SQ FT Office/Flex/Industrial - 12/09/08 07:15 PM
Hi everybody!
I am representing a client looking to lease office/flex/industrial space:
Size: 2,500 to 3,500 SQ FT Type: Office/Flex/Industrial Space Timeframe: Immediate Location: Novi/Farmington Hills/Livonia/I-275/696/M-5 Corridor Please forward any opportunities that you may have available to:
Jason Tucker | Associate Director
Newmark Knight Frank, Inc.34975 W. Twelve Mile Road | Farmington Hills, MI 48331Phone: 248-848-4084 | Fax: 248-848-9041 | Cell: 248-431-8138e-mail: jtucker@newmarkkf.com | Website: www.newmarkkf.com
… (2 comments)
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detroit: Enhance Your Luck - 12/02/08 12:47 PM
By Jon Gordon
"Do you feel lucky?" It's not just one of my favorite Clint Eastwood quotes, it's also an important question each one of us should ask ourselves. Turns out luck, like much in life, has a lot to do with our beliefs and the energy and attitude we project. The luckier we feel and believe we are, the luckier we are.
A great article in Men's Health Magazine by Matthew Teague, which features the latest research from British psychologist Richard Wiseman, author of the Luck Factor, explains that there is a lot more to luck than coincidence or … (7 comments)
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Jason Tucker
Richmond,
VA
More about me…
Address: Richmond, VA, 23294
Office Phone: (248) 431-8138
Cell Phone: (248) 431-8138
Email Me
Jason is personally committed to a holistic approach for assisting local and international companies with their strategic real estate needs. He provides his clients with targeted real estate market research, industry trend analysis, and logistics solutions that enable them to make well-informed, cost-effective decisions about their businesses.
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