Grand Rapids apartment demand is the healthiest in three years
Kentwood/Wyoming area leads the metro in renter demand
Approaching the halfway point of 2025, Grand Rapids’ multifamily owners are enjoying the widest gap between renter demand and new supply since early 2022.
New Jersey’s northern counties lead the state in owner-user industrial property sales
Tenants increasingly prefer ownership in dense areas with limited supply
An analysis of industrial property sales across New Jersey reveals that owner-user sales are at the highest level statewide since at least 2015.
Here's why some US industrial markets are moving toward equilibrium as others see peak construction
Rebalanced supply-demand backdrops foretell return of asking rent growth for certain large markets
When it comes to industrial rents, some markets like Atlanta, Boston and Memphis, Tennessee, may see deceleration, while those including Northern New Jersey and St. Louis could hol...
Industrial availability rate climbs to 10-year high in Somerset County, New Jersey
Largest properties struggle to attract tenants to the suburbs
Project completions across Somerset County, New Jersey, outpaced space demand in 2023 and 2024, driving the availability rate 440 basis points higher to nearly 10% as the calendar ...
Detroit’s office market continues to search for a demand catalyst
Southfield’s move-out activity pushes the area’s availability rate toward 30%
Detroit’s office market is experiencing a prolonged period of weak space demand. Net absorption, or the change in occupied space, has been negative for five straight years, and the...
Availability of medical office space across Northern New Jersey remains historically low
Growing healthcare payrolls to support further demand for medical office space
Medical office buildings have demonstrated stable performance for the past few years, presenting a marked contrast with traditional office properties.
Detroit’s retail market is staring down a third straight year of negative space demand
Gross move-out activity is at the highest level since 2007
Despite limited supply-side pressure, retail space demand across Detroit has been declining sequentially each year since 2023. That contrasts with other large retail markets nation...
Detroit’s industrial availability rate climbs past 6% but remains below the national average
The metropolitan area has benefited from modest inventory expansion since 2019
The Detroit metropolitan area industrial availability rate is 6.1% in April, representing an 80-basis-point increase from last year. However, that’s far below the U.S. average avai...
Homeownership increasingly less appealing in much of New Jersey
Rising sale prices and high property taxes make renting a more affordable option
Amid rising macroeconomic uncertainty and strained household budgets, residents across New Jersey are balancing competing living preferences against the stark reality that homeowne...
Long Island's apartment market continues to decouple from national hurdles
The metropolitan area’s luxury segment drives overall vacancies lower
Early in the second quarter, the average vacancy rate for apartments on Long Island, New York, rests at 4.7%, down from an all-time high of 6.7% recorded early in 2024. Conversely,...
Grand Rapids office market remains among the steadiest in Michigan
The metropolitan area benefits from employment gains in vital service sectors
Grand Rapids has been among the most stable office markets in the Wolverine State since the pandemic.
Detroit’s improving demographic backdrop continues to support apartment demand
Population gains in the metropolitan area’s largest counties accelerated in 2024
The Census Bureau’s population estimates through July 2024, released last month, show broad-based gains in Michigan’s largest counties. The latest data pegs Michigan’s total popula...
Industrial investors target New Jersey’s Middlesex and Essex counties early in 2025
Transaction volume and prices improve year over year
New Jersey’s industrial property sales activity totaled $409 million in the first quarter of 2025, down 59% from the fourth quarter of 2024, but 10% above the level recorded in the...
Detroit-based Harvest Sherwood Food Distributors is shutting down operations
The move adds to a steady increase of available industrial space in its home market
Harvest Sherwood Food Distributors, the nation’s largest independent wholesale food distributor, is winding down all its operations nationwide. CoStar data shows that the company’s...
Retail space availability on Long Island remains near all-time lows
Minimal construction unlikely to alleviate demand pressure in the near term
In a sign of how tight the retail space markets are across Long Island, New York, the metropolitan area posted back-to-back years of sub-5% availability rates in 2023 and 2024 for ...
Joann’s liquidation opens door for other retailers to expand in New Jersey
The craft chain’s leased spaces will bring much-needed supply to the market
National crafts giant Joann disclosed late in February that it will be liquidating and closing its roughly 800 stores. The company filed for bankruptcy last March and again in the ...
Owner-user office deals boosted New Jersey sales volume in 2024
Momentum accelerated further this year with flurry of deals in January and February
The latest CoStar data suggests the drought in New Jersey office transactions may finally be over as opportunistic buyers are ready to take advantage of well-located properties at ...
New Jersey industrial leasing sped up in 2024
Middlesex, Bergen and Burlington counties accounted for over half of new leasing volume
As 2024 industrial leasing data collection winds down, New Jersey's full-year tally shows a 14% year-over-year increase in new commitments. Total deal counts rose 6% in the past ye...
New Jersey’s Transit Village Initiative spurs cities to revitalize their downtowns
Jersey City and Hackensack lead the state in multifamily development around transit stations
The New Jersey Department of Transportation established the Transit Village Initiative in 1999 to promote redevelopment around public transit and boost economic activity. Over 30 c...
Long Island's office recovery leads the Northeast markets
Limited new supply and redevelopment have helped soften the pandemic hit on occupancy
Office property owners across Long Island have benefited from limited new construction for more than a decade, which allowed the market to recover faster than its neighbors from th...