knowledge: Newmark Knight Frank - Detroit Industrial Market Report - 1Q10
- 06/22/10 07:15 AM
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)
knowledge: Newmark Knight Frank - Detroit Office Market Report - 1Q10
- 06/22/10 07:00 AM
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)
knowledge: Newmark Knight Frank - Detroit INDUSTRIAL Market Report - 2Q09
- 10/01/09 06:55 AM
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)
knowledge: Tucker's 2 Cents - What industries to focus on for 2009:
- 04/07/09 06:09 AM
Hey everyone! While revising my annual commercial real estate business and marketing plan, it seemed beneficial for me to gather opinions of other people from my professional industry. This post is focused on my target customers for 2009 and I would be very interested to hear your thoughts and comments on the same topic. For 2009 I will be focusing much of my efforts on the following industries: Alternative Energies - There have been accounts of numerous new companies, projects and ventures in the alternative energy field. All of which may need facilities, land and/or office space. Emerging Technologies - There … (1 comments)
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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