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Troy Emerges as Hot Office Submarket Despite Continued Building

TROY, MI-This Motown suburb ranks third in office space in the Southeast Michigan market, just behind Detroit and Southfield, at 11.9 million sf. Nonetheless, the submarket boasts a 6.1% vacancy rate.

By Robert Carr | Updated on January 03, 2001

TROY, MI-One of the hottest and fastest growing markets in the Southeast Michigan area is this Detroit suburb, which continued its growth well past the third quarter of 1999, according to market research analysts from the Southfieldoffice of Cushman and Wakefield. Since first quarter 2000, Troy has added more than 500,000 sf of new office space and is expected to add another 523,000 sf by fourth quarter 2001.

The new buildings will include Willow Office Center, a 40,000-sf facility on Big Beaver Road and 5151 Corporate Drive, a 483,000-sf facility being built for Flagstar Bank, which will have 90,000 sf available for lease on a five-year term.

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