2017 Year-End Vacancy Report

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ANN ARBOR OFFICE/FLEX MARKET

As of December 31st 2017, the overall market vacancy rate for office and flex space is 7.2%, a decrease from the 8.7% vacancy rate one year ago.

OFFICE

The office vacancy rate decreased from 9.4% to 8.1%. (-1.3%)

FLEX

In the past year, flex vacancy rates decreased from 6.5% to 4.6%. (-1.9%)

TOTAL VACANCY RATE PER YEAR

––– Office

––– Flex

––– Total

STATISTICAL SUMMARY
Area # Blds Gross sf Vacant sf YE 2017 Vac % YE 2016 Vac % % Chg.
OFFICE
Downtown 63 1,662,869 60,484 3.6% 2.1% +1.5%
North 35 2,516,300 39,880 1.6% 3.1% -1.5%
East 35 637,974 62,105 9.7% 16.6% -6.9%
CGMA 10 501,543 17,548 3.5% 6.4% -2.9%
South 68 3,389,591 480,574 14.2% 16.2% -2.0%
West 21 448,755 77,396 17.2% 13.9% +3.3%
Total 232 9,157,032 737,987 8.1% 9.4% -1.3%
FLEX
South 48 2,391,702 101,007 4.2% 5.6% -1.4%
West 19 644,848 39,755 6.2% 10.6% -4.4%
Total 67 3,036,550 140,762 4.6% 6.5% -1.9%
TOTAL
Downtown 63 1,662,869 60,484 3.6% 2.1% +1.5%
North 35 2,516,300 39,880 1.6% 3.1% -1.5%
East 35 637,974 62,105 9.7% 16.6% -6.9%
CGMA 10 501,543 17,548 3.5% 6.4% -2.9%
South 116 5,781,293 581,581 10.1% 11.8% -1.7%
West 40 1,093,603 117,151 10.7% 12.1% -1.4%
Total 299 12,193,582 878,749 7.2% 8.7% -1.5%