Macomb Market Update – May 2019

 

Demand remains strong for industrial, office and retail within Macomb County.  On the industrial side I have heard more companies talk about being slow but overall business has been great so far in 2019.  The recent Mexico tariff proposal may create some pain for local companies and we will see how it all pans out.  This may take six months before we see any hit to the local real estate markets if at all.

 

Investor are still buying properties throughout the county.  CAP rates remain high and haven’t been pushed down to much.  Investors are still seeing returns from 8-9% across the board.  If you are looking to invest in and have questions please give us a call.

 

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     1.6% Vacant         $6.79 per SF Average Rental Rate

 

Macomb Office Space           6.4% Vacant         $16.94  per SF Average Rental Rate

 

Macomb Retail Space           4.8% Vacant          $15.52 per SF Average Rental Rate

 

 

For Sale Asking Rate Average

 

Macomb Industrial Space     $58  per SF

 

Macomb Office Space          $101 per SF

 

Macomb Retail Space           $118 per SF

 

 

Best Regards,

 

 

 

Justin Francek

Senior Associate

Cell:  586-227-9515

Office: 586-254-0900

www.macombcre.com