2020 Year-End Ann Arbor Area Office/Flex Vacancy Report

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ANN ARBOR OFFICE/FLEX MARKET

As of December 31, 2020, the total market vacancy rate for office and flex space is 8.0% , an increase from the 5.8%vacancy rate one year ago. (2.2%)

FLEX

In the past year, flex vacancy rates were essentially flat, rising from 3.2% to 3.4%. (0.2%)

OFFICE

The office vacancy rate increased from 6.6% to 9.4%. (+2.8%)

TOTAL VACANCY RATE PER YEAR

––– Office

––– Flex

––– Total

STATISTICAL SUMMARY
Area # Blds Gross sf Vacant sf YE 2020 Vac % YE 2019 Vac % % Chg.
OFFICE
Downtown 66 1,675,559 134,350 8.0% 5.7% 2.3%
North 35 2,557,941 178,482 7.0% 6.8% 0.2%
East 35 633,974 78,454 12.4% 10.9% 1.5%
CGMA 10 501,543 49,796 9.9% 6.5% 3.4%
South 68 3,348,827 380,222 11.4% 6.3% 5.1%
West 22 436,201 40,975 9.4% 6.0% 3.4%
Total 236 9,154,045 862,279 9.4% 6.6% 2.8%
FLEX
South 50 2,139,292 66,623 3.1% 2.9% 0.2%
West 18 635,172 28,555 4.5% 4.0% 0.5%
Total 68 2,774,464 95,178 3.4% 3.2% 0.2%
OFFICE/FLEX TOTALS
Downtown 66 1,675,559 134,350 8.0% 5.7% 2.3%
North 35 2,557,941 178,482 7.0% 6.8% 0.2%
East 35 633,974 78,454 12.4% 10.9% 1.5%
CGMA 10 501,543 49,796 9.9% 6.5% 3.4%
South 118 5,488,119 446,845 8.1% 4.9% 3.2%
West 40 1,071,373 69,530 6.5% 4.8% 1.7%
Total 304 11,928,509 957,457 8.0% 5.8% 2.2%

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, & Airport areas. West includes Scio Twp, W. Liberty & Jackson Road areas. 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 2020 rate less the YE 2019 rate.

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