The absorption trend has twisted, said the company. The suburbs of Detroit saw about 260,000-sf of negative Class A absorption in the first quarter, while downtown Detroit area actually saw positive absorption of about 247,000-sf, said Colliers. The Class B space in both markets is hurting with negative absorption and high vacancy, the company said.
Office leasing continues at the same pace, said Colliers, with companies such as staffing firms and mortgage lenders snapping up space in the northern suburbs.
Finally, the economy has caused a boost in sales for all market types in the Detroit area, including hotels, retail centers and apartment complexes, Colliers said.
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