The East Office Area (EOA) vacancy rate increased a percent and a half from 10.9% in 2019 to the current rate of 12.4%. (+1.5%)
One property in the EOA reported 14,000 square feet higher vacancy than last year, and of the nine other buildings in the EOA with increased vacancy, none increased by more than 5,000 square feet. Despite the dampening effect of the pandemic, there was a steady flow of new small-office transactions in the EOA, which moderated the increase in the vacancy rate of the sub-market. New office tenants relocating or expanding into the EOA included firms in the mental health, accounting, legal and real estate sectors.
To speak with a broker regarding the current Ann Arbor commercial real estate market, call (734)663-0501.