At the end of Q3 2019, the Ann Arbor office submarket totaled over 5.7 million sq. ft. and was 2.8% vacant, while the Metro Detroit office market consisted of 79.8 million sq. ft. and was 14.2% 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 $26.63 for Q3 2019, Ann Arbor’s average asking lease rate was $7.36 above the Metro Detroit average.