Due to significant demand gains in recent years and steadily decreasing vacancy rates, landlords have begun to push rents.

1. Pendulum slowly swings in favor of landlords
Detroit
• Due to significant demand gains in recent years and steadily decreasing vacancy rates, landlords have
begun to push rents. Class A asking rents averaged $22.95 per square foot at the end of Q1, up $0.65
or 2.9 % year-over-year while Class B asking rents averaged $16.98 per square foot, up $0.24 or 1.5 %
year-over-year. Further rent increases are forecasted over the coming year, particularly downtown and
in other key submarkets when demand is concentrated.
Source: JLL Research
Chart of the week: April 27, 2015
$15.50
$18.50
$21.50
$24.50
2011 2012 2013 2014 Q1 2015
Class A Class B