"While cost cutting and space consolidation efforts amongautomotive-related companies has hurt demand, non-automotivecompanies have made up the bulk of tenants leasing space and havekept the industrial market stable," Grubb & Ellis reports.
The industrial vacancy rate was steady over the previousquarter, increasing only 10 basis points to 11.2% for the overallmarket, meaning about 40 million sf is available.
Positive absorption -- 335,621 sf -- was reported in the MacombCounty submarket, where the vacancy rate declined 90 basis pointsto 7.8%. The southern Wayne County submarket also had a positiveabsorption of 179,443 sf. Most of the activity in southern WayneCounty was caused by transportation companies adding space, such asCentral States Trucking's lease of 179,443 sf at Airport Park inRomulus.
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