Commercial Real Estate in Michigan is starting to move. We are seeing small and large business making decisions in their facilities and real estate needs. Those very best spaces, those buildings with the great price, great location, and in great condition are selling and leasing. Fast.
Jamie, how come I see 20 different buildings with "available" out in front, and you only tell me there are 4 spaces that work for my company? Yes, there are many options that DON"T work. Smaller businesses tend to spend the most time looking for commercial office and retail properties on their own. They waste hours, and many times will secure a space for more than the market rates.
Rental Rates for Retail Office and Industrial Space in Waterford. Here are the average rates in the area for July
Industrial: lease rates range from $6.00 to $12.00 per square foot
Medical: Medical office space rates range from $9.00 to $18.50 per square foot
Office: General office space rates range from $9.00 to $18.50 per square foot.
Lease types will vary from building to building. Some properties are leased on a Triple Net (NNN) basis, while some will provide a gross rate plus utilities. As you can see it becomes very confusing to a consumer trying to understand exactly what they are paying for and how it will impact the business.
If you ever have questions with Real Estate in Michigan, leasing and selling commercial real estate, or the Michigan real estate market, please feel free to ask.