At the end of Q4 2018, the Ann Arbor office submarket totaled over 5.7 million sq. ft. and was 6.4% vacant, while the Metro Detroit office market consisted of 79.6 million sq. ft. and was 14.9% vacant.
Ann Arbor has historically maintained lower vacancy rates than the suburban Detroit market. As a result, Ann Arbor generally demands high average asking lease rates. At $26.48 for Q4 2018, Ann Arbor’s average asking lease rate was $7.57 above the Metro Detroit average.