Photo: Andrew Mullin ~ 760 WJR
DETROIT, May 12, 2025 ~ Metro Detroit has an excess of office space available to rent, though this may be causing headaches for commercial real eastate agents.
Office space rent in the Detroit area has actually been declining in price since 2000, said Crain’s Detroit Managing Editor Mike Lee. “It’s become harder and harder to be a commercial office landlord,” he told WJR. “Companies are using less space, (and) this is not just COVID. This goes back to the huge amount of construction that was done in the suburbs between 1980 and 2000, and metro Detroit just has too much office space, and too much old office space, that companies are less interested in renting.“
PODCAST:
May 12, 2025 ~ Crain’s Detroit Business Managing Business Editor Mike Lee talks with Lloyd Jackson, Jamie Edmonds, and Chris Renwick about metro Detroit‘s office rentals have declined significantly, Santa Ono‘s departure from the University of Michigan to the University of Florida, Tiger Woods‘ hinting at a potential indoor golf simulator in Detroit, and more.
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