det-LCC (2) Located at 28101-28201 Schoolcraft Rd. in Livonia, MI, the Livonia Corporate Center, Phase II speculative development has two buildings and 915,000 square feet.

DETROIT—This metro area has one of the lowest industrial vacancy rates in the nation, but developers and lenders currently seem reluctant to launch new projects, according to Newmark Knight Frank. The firm just released its second quarter 2018 industrial trends data for the Detroit region and found the metro’s rate fell 60 bps to 4.2% as just over two million square feet was absorbed.

However, new construction starts have dropped dramatically. The second half of 2017 saw 18 new construction starts, compared to ten starts during the first half of 2018. But the second quarter of 2018 saw just four starts and by year’s end, developers may have only eight projects still underway.

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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