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