Swisher Commercial’s 27th annual survey of vacancy rates for office and flex space in the Ann Arbor area for year-end 2019 has been released. The survey includes 307 buildings of 5,000 square feet or larger, totaling over 12 million square feet.
The report includes a breakdown of vacancy rates by sub-market and charts the vacancy trends over the last 27 years. This report can help with better understanding the current market and assist in planning for real estate decisions.
2019 numbers organized according to property type and area:
* Swisher Commercial personally surveyed 307 buildings of 5,000 square feet or larger, totaling over 12 million square feet
* Flex vacancy rates have decreased from 5.6% to 3.2% in the past year
* Office vacancy rate remained flat at 6.6%
* The Downtown Office Area (DOA) vacancy rate decreased from 6.8% to 5.7%
* The North Office Area (NOA) vacancy rate jumped from 1.4% to 6.8% resulting from businesses relocating to the SOA and a potential redevelopment of office users
* The East Office Area (EOA) vacancy rate increased slightly from 10.0% to 10.9%
* The Clark-Golfside Medical Area (CGMA) Office Area vacancy rate increased from 1.3% to 6.5% due to a McAuley Campus building showing 20,000 square feet available to third party tenants
* The South Office Area (SOA) vacancy rate dropped for the second consecutive year, decreasing from 9.7% to 6.3%
* The South Flex Area (SFA) rate dropped significantly from 5.3% to 2.9%
* The West Office Area (WOA) vacancy rate was cut in half, dropping from 12.7% to 6.0% due to a consistent demand all year for WOA office space
* The West Flex Area (WFA) vacancy rate dropped from 6.8% to 4.0%
Swisher Commercial agents can speak to the trends and market analysis that will inform and benefit the Washtenaw County community and their future business and real estate decisions.
Swisher Commercial is a full-service, independent brokerage firm located in downtown Ann Arbor, specializing in commercial real estate: office, industrial, retail, multi-family, commercial/residential vacant land, development opportunities and investment properties. Services include sales, leasing, consulting, and property management of commercial real estate, as well as the sale of vacant/development land. Learn what hundreds of clients in Ann Arbor, Ypsilanti, Chelsea, Dexter, Saline and throughout Southeast Michigan have known for over 50 years…Swisher has the expertise and experience that make the difference.