It's no suprise that Covid has had an impact on vacancy rates in Detroit office towers.
A Chicago-based commercial real estate broker, JLL, reports a 10.2-percent vacancy rate among 21 office buildings from dowwntown to the New Center area, up from 7.7 percent in 2019 and just under 9 percent in 2020, Kirk Pinho of Crain's Detroit Business writes.
Average rent levels fell by 0.4 percent to $25.92 per square foot.
"The COVID-19 pandemic has dampened office leasing activity, as vacancies have trended slightly upward year-over-year," Harrison West, research manager for JLL, said in a statement, accordinb to Crain's. "211 West Fort and the Renaissance Center contain nearly two-thirds of the skyline's vacancy and rent growth has stagnated in the skyline."
