In Auburn Hills, Ketai says, the automotive slowdown has affected the market. There's been almost no absorption and build-to-suits have diminished dramatically.
In the Birmingham area, rents have stabilized with more incentives, and executive housing will bring this market back to normal quicker than the others.
In Southfield, the largest office market, new construction and a large sublease inventory have caused landlords to become more aggressive and increase incentives, Ketai says. This market will remain strong due to its central location.
Troy doesn't have much available land left for development. However, new government leanings toward easing land restrictions may open up this market.
Ketai says the Detroit submarket has yet to improve, while large projects such as General Motors and Compuware moving in soon will make a strong statement. Long-term prospects are uncertain for Downtown Detroit, he adds.
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