The report states:· Vacancy rates remained stable, and have increased over the last year;· Net absorption is increasing while construction activity has decreased;· Average asking lease rates for the Detroit market increased this quarter;to $19.99, and rent inflation over the last 12 months stands at 8.4%;· Asking rates for the Detroit submarket are up $3 to $22.19 in the quarter:· The market posted a positive 701,581 sf of absorption for the thirdquarter, up 10% from the same quarter last year.The prognosis for the market in the near term is good, given the job growthforecast relative to current and pending supply, the company says.
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