The industrial vacancy rate in the West Michigan market area increased to 8.1% at the end of the first quarter 2012. The vacancy rate was 8.0% at the end of the fourth quarter 2011, 8.3% at the end of the third quarter 2011, and 8.4% at the end of the second quarter 2011.
Flex projects reported a vacancy rate of 10.3% at the end of the first quarter 2012, 10.4% at the end of the fourth quarter 2011, 11.2% at the end of the third quarter 2011, and 11.1% at the end of the second quarter 2011.
Warehouse projects reported a vacancy rate of 8.0% at the end of the first quarter 2012, 7.9% at the end of fourth quarter 2011, 8.1% at the end of the third quarter 2011, and 8.3% at the end of the second quarter 2011.
The information in this news report is based on CoStar’s First 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.