January was quite like the forth quarter of 2018. Chugging along but not at a quick rate. This month we saw stay about the same vacancy rate across the board with only a slight uptick in the industrial vacancies.. Average sale prices of all three major sectors increased this month as inventory is still tight and influencing prices. If you have any free space that you are looking to sell or lease lets talk, the market is still favorable.
This email is provided as a service to clients, colleagues, and friends of the Pilot Property Group. Let us know if you need any other detailed research or market specific information. And, as always, let us know how we can help with any pending needs or vacancies.
We have more buyers than properties available for both user’s and investors in Macomb County. If you have ever wondered the current value of any of your buildings please let me know the address and I will conduct a broker opinion of value and help you get a better idea of the true value in today’s market.
Vacancy and Rental Rates
Macomb Industrial Space 1.8% Vacant $6.47 per SF Average Rental Rate
Macomb Office Space 7.6% Vacant $17.50 per SF Average Rental Rate
Macomb Retail Space 5.1% Vacant $14.94 per SF Average Rental Rate
For Sale Asking Rate Average
Macomb Industrial Space $52 per SF
Macomb Office Space $82 per SF
Macomb Retail Space $127 per SF