In 2010, the vacancy rates for downtown Detroit's 20 most prominent office properties was at 26 percent, reports Crain's Detroit Business.
Now, it's at 9.4 percent for the first quarter of this year, according to the new Skyline report from Jones Lang LaSalle, a Chicago-based international real estate company with its local office in Royal Oak, Kirk Pinho writes.
The average asking rent in those buildings was $23.23 per square foot in the first quarter. The healthy market has triggered talk of new office building construction.
