The report states:· Vacancy rates remained stable, and haveincreased over the last year;· Net absorption is increasing whileconstruction activity has decreased;· Average asking lease ratesfor the Detroit market increased this quarter;to $19.99, and rentinflation over the last 12 months stands at 8.4%;· Asking rates forthe Detroit submarket are up $3 to $22.19 in the quarter:· Themarket posted a positive 701,581 sf of absorption for thethirdquarter, up 10% from the same quarter last year.The prognosisfor the market in the near term is good, given the jobgrowthforecast relative to current and pending supply, the companysays.
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