Detroit industrial market report

Q4 2024

The Detroit industrial market showed consistent activity throughout 2024, even though the annual leasing volume was lower than the post-COVID averages.  The fourth quarter saw the highest leasing activity of 2024, with 1.85 msf leased, exceeding the quarterly average.  The overall vacancy increased slightly up to 4.4%, still well below the national average of 7.3%.  Construction activity has slowed, with 2.87 msf under development, which will further help keep overall vacancy rates stable.
4.4%

Overall vacancy

Overall vacancy remains extremely tight, recorded at 4.4% at year-end 2024, well below the national average of 7.3%. 

6.97 msf

Leasing activity

A total of nearly 7 msf leased throughout 2024, with a quarterly average of 1.74 msf. 

2.9 msf

Construction activity

Construction activity continues to decline, with 2.9 msf currently under development the lowest level since Q2 2019.

Your source for the latest Detroit industrial real estate reports

Stay on top of current trends affecting the industrial real estate sector in Detroit. Gain an overall better understanding of Detroit's industrial real estate market conditions, so you can better formulate strategies to overcome any obstacle and know how to best invest in industrial real estate in Detroit.

Here, you’ll always find the latest industrial real estate market news so you can stay ahead. Come back often to see expert insights on the current and future of Detroit industrial real estate market.

Get the latest Detroit industrial market reports right in your inbox