Detroit's retail vacancy rate changed in the second quarter 2012, ending the quarter at 10.2%. Over the past four quarters, the market has seen an overall decrease in the vacancy rate, with the rate going from 10.6% in the third quarter 2011, to 10.4% at the end of the fourth quarter 2011, 10.2% at the end of the first quarter 2012, to 10.2% in the current quarter.
The amount of vacant sublease space in the Detroit market has trended down over the past four quarters. At the end of the third quarter 2011, there were 1,091,299 square feet of vacant sublease space. Currently, there are 1,041,927 square feet vacant in the market.
The information in this news report is based on CoStar’s Second Quarter 2012 Market Report, a 40-plus page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 1-877-694-2177.