Vacancy rates have plunged, and even though developers have kicked off millions of square feet, experts say that much more will be possible once rents increase.
“The metro Detroit market is essentially at full capacity,” John DeGroot, vice president of research at NGKF, tells GlobeSt.com, mostly due to the resurgence of the US auto industry, which saw sales reach 17.4 million units in 2015, topping a record set in 2000. “There are ten mega distribution facilities with at least one million square feet in the region, and each is between 95% and 100% occupancy.”
Chrysler recently moved into a newly completed 190,000-square-foot logistical center at 2860 Clark St. in the city, and four other projects there totaling over 1.2 million square feet are currently under construction, the most activity in 12 years. Crown Enterprises is building one of the largest facilities, a 500,000-square-foot distribution facility for its Universal Truckload Services. And Sakthi Automotive is building a 540,000-square-foot expansion on Fort Street.
http://www.globest.com/sites/globest...historic-high/
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