This measure represents the vacancy rate for industrial buildings in Southeast Michigan. The vacancy rate covers numerous industrial property uses including: manufacturing, warehousing and distribution, research and development, and flex spaces. Industrial buildings are crucial to Southeast Michigan's advanced manufacturing economy; for they provide the necessary space for our region to manufacture, transport, and develop future goods.
Industrial vacancy rates rose slightly above 4% in 2020, but dropped below 4% in 2023 and remain there. Strong demand for manufactured goods, along with an increased demand for delivery services have kept industrial vacancy rates low.