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Auto Industry Hits Industrial Sector

DETROIT-As the automotive industry turns south, a third quarter industrial report released by the Southfield office of Grubb & Ellis Co. indicates potential opportunity for developers and landlords invested in warehouse and distribution products.

By Dana Dubriwny | Updated on November 22, 2005

(To read more on the industrial market, click here.)

DETROIT-According to the most recent Industrial Market Trends report released by the Southfield office of Grubb & Ellis Co., vacancy rates in Detroit’s industrial sector held steady during the third quarter. However, as auto companies consolidate and shift gears in reaction to higher gas, material and health costs, upcoming quarters could hold opportunities for different product users.

The report indicates that manufacturers and distributors across a wide spectrum of industries shopped the market during the quarter. Activity in the Southeastern Oakland and Macomb counties came from auto-related companies leasing general industrial and manufacturing facilities. Leasing activity for warehouse/distribution space in Western Wayne County increased slightly, while in Southern Wayne County consistent demand, lower vacancies and a lack of new construction during the past several quarters prompted developers to break ground on several facilities.

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