2019 Year-End Vacancy Report

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ANN ARBOR OFFICE/FLEX MARKET

As of December 31, 2019, the total market vacancy rate for office and flex space is 5.8%, a decrease from the 6.4%vacancy rate one year ago. (-0.6%)

FLEX

In the past year, flex vacancy rates decreased from 5.6% to 3.2%. (-2.4%)

OFFICE

The office vacancy rate remained flat at 6.6%. (0.0%)

TOTAL VACANCY RATE PER YEAR

––– Office

––– Flex

––– Total

STATISTICAL SUMMARY
Area # Blds Gross sf Vacant sf YE 2019 Vac % YE 2018 Vac % % Chg.
TOTAL
Downtown 67 1,654,283 93,504 5.7% 6.8% -1.1%
North 36 2,564,615 174,506 6.8% 1.4% 5.4%
East 35 633,974 69,158 10.9% 10.0% 0.9%
CGMA 10 501,543 32,777 6.5% 1.3% 5.2%
South 118 5,684,530 278,638 4.9% 7.9% -3.0%
West 41 1,079,665 52,256 4.8% 9.2% -4.4%
Total 307 12,118,610 700,839 5.8% 6.4% -0.6%
OFFICE
Downtown 67 1,654,283 93,504 5.7% 6.8% -1.1%
North 36 2,564,615 174,506 6.8% 1.4% 5.4%
East 35 633,974 69,158 10.9% 10.0% 0.9%
CGMA 10 501,543 32,777 6.5% 1.3% 5.2%
South 68 3,348,827 209,901 6.3% 9.7% -3.4%
West 22 436,201 26,310 6.0% 12.7% -6.7%
Total 238 9,139,443 606,156 6.6% 6.6% 0.0%
FLEX
South 50 2,335,703 68,737 2.9% 5.3% -2.4%
West 19 643,464 25,946 4.0% 6.8% -2.8%
Total 69 2,979,167 94,683 3.2% 5.6% -2.4%

ASSUMPTIONS

1. AREA
Downtown includes D1 & D2 zoned bldgs. North includes Plymouth Rd corridor & Ann Arbor Twp. East includes Washtenaw, Packard and Carpenter Rds. South includes S. Industrial, S. Main, S. State, Pittsfield Twp, Briarwood, & Ann Arbor Airport areas. West includes Scio Twp, W. Liberty & Jackson corridor. CGMA is the Clark-Golfside Medical Area, St. Joseph Mercy Hospital campus & the Huron River Drive/Golfside-Clark area.
2. BUILDINGS
Includes all identified non-owner-occupied buildings over 5,000 sf.
3. FLEX
Defined as high-bay type buildings, often combining office, high-tech, research, warehouse & similar.
4. % CHANGE
A negative denotes a decreasing vacancy rate. Calculation is YE 2019 rate less the YE 2018 rate.

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