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Numbers Game

It's good news/bad news in Metro Detroit's commercial real estate market! After losing more than 4.5 million square feet of occupied office space since 2008, the shrinkage has become a [mini] growth spurt! Two reports show positive absorption (calculated by subtracting the amount of space vacated from the amount of space leased). However, the current asking rate of $17.89 per square foot is a 10-year low. [Crain's]