The Tri-County Commerce Center in Hazel Park, MI, is one of the region's few recent spec developments. Amazon agreed to occupy 137,000 square feet.
DETROIT—The Detroit industrial market continues to set some remarkable records. It recorded 953,793 square feet of positive absorption in the third quarter, driving lease rates to historic highs of $6.59 per square foot, according to CBRE's Industrial MarketView.
Furthermore, this was its 30th consecutive quarter of positive absorption and the vacancy rate stayed below two percent, at 1.93%, for the third consecutive quarter.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
