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Detroit Market Reports

The Metro Detroit office market vacancy rate edged up 80 basis points to 16.2% during the fourth quarter of 2020 as just over 548,000 square feet in net vacancies were added to the market. 2020 was a challenging year for the office market. The Metro Detroit industrial vacancy rate fell 20 basis points to 4.3% during the fourth quarter of 2020, as just over 1.3 million square feet were absorbed.