DETROIT - The metro Detroit suburban industrial real estate market continued to see a strong rebound throughout 2012, according to Signature Associates and Cushman & Wakefield.

With 12 million square feet of positive absorption, the vacancy rates dropped significantly in all markets, Signature Associates said. In many submarkets the vacancy rates dropped to under 10% for the first time since 2006. Sale prices and lease rates have surged almost 50% from their 2009 lows in some markets as shortages of good, functional buildings have frustrated many users, according to Signature Associates. “We expect new construction to start later in the year and pick up in 2014,” John Boyd, Executive Vice President and Principal at Signature Associates, says in a press release. Signature Associates is a commercial real estate firm with Michigan offices in Southfield, Detroit, Lansing, Grand Rapids, Muskegon, Holland, Kalamazoo, and in Toledo, OH. Signature's Alliance Member, Cushman & Wakefield, has 243 offices in 60 countries.