Vacancy rates for warehouse/manufacturing hover at 12.5%, andresearch/development/high-tech space has stayed at around 19.24%, thecompany said.
Absorption in these markets is sporadic, with no trend foreseeable, saidColliers.
"The uncertainty over the immediate future of economic conditions ingeneral, and automotive sales and production in particular, are the majorfactors affecting the Detroit Metro market," the report said, "as evidenceby the continued modest to moderate leasing and sales activity, and slight,though wavering, fluctuations in lease rates."
Specifically, lease rates, for the most part, are holding steady at $4.50per sf for warehouse/manufacturing and $7.50 forresearch/development/high-tech space. Sales prices, mostly for buildingsless than 40,000-sf, are averaging approximately $55 per sf, Colliers said.
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