- Associated Press - Friday, December 23, 2016

DETROIT (AP) - Office space in downtown Detroit is filling up.

Real estate firm Jones Lang LaSalle says the vacancy rate is 13.3 percent. The Detroit News (https://detne.ws/2hfyD51 ) reports that the rate was roughly 33 percent a decade ago.

Rod Miller, president of Detroit Economic Growth Corp., says it’s a “good problem to have” and means there’s a strong perception of downtown Detroit, just two years out of the city’s bankruptcy.

Quicken Loans founder and downtown real estate investor Dan Gilbert recently said he might have to put some employees in the suburbs because of a lack of space.

As a comparison, the News says the recent office vacancy rate in downtown Cleveland was 22 percent and 17.5 percent in downtown Indianapolis.

___

Information from: The Detroit News, https://detnews.com/


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide