Vacancy Increases in Detroit’s Prime Office Buildings

There’s an increase in vacancy rates in Detroit’s prime office buildings in 2021. According to a new report from the Chicago-based brokerage house JLL, there’s a 10.2% vacancy rate totaling more than 10.9 million square feet. That’s an increase from a 7.7% vacancy rate in 2019 and just under 9% in 2020. Rent also dropped 0.4%. Although 21 downtown prime office buildings comprise the vacant real estate, the Renaissance Center accounts for almost 45% of all the vacant space.