Detroit Offices

Trying to find the ideal executive office suite or commercial office space is an exhausting and time consuming process. The “Great Recession” has gotten worse, weakening the economy and making it necessary for all companies (or individuals like a investment advisors, phone representatives, administrators, etc) to find the optimum commercial office spaces with the most value. Officespaceheaven.com offers a free service and has a proven track record to help any sized business be successful with their search for commercial office space. Detroit is the largest city in the state of Michigan. Detroit, MI is a major city alongside the Detroit River in the Midwest region of the United States. It is the only city in the United States that looks south to Canada. Originally settled by the French, the city has a rich tradition of culture and industry. Often called the Motor City and Motown, Detroit through the years has been giving great cultural gifts to the rest of the world. Areas we service in the Detroit metropolitan area are Sterling Heights, Novi, Township, Waterfield, Warren and Southfield. We also offer office space in Cleveland, Chicago and Minneapolis.

Office Space Pricing

There are many new commercial developments in the area, despite the high unemployment rate. There are also a lot of office space being built and sold for those that are looking to start, build or expand their business options with relative ease. Rental rates for Detroit office space are extremely low offering great opportunities for those trying to lease Detroit office space. Prices start at below $1 a square foot and can be found even lower throughout many different areas and depending upon floorplan type and office size. Detroit office space can be of all types including executive suites, temporary offices and fully furnished suites. Many spaces come with large retail storefronts adjacent and several other amenities that are not traditionally found in other locations. Detroit has also had a vacancy rate of 23% in recent months which allows many different opportunities to be taken advantage of by any size budget. This is a great time for businesses to lease Detroit office space. There is a large workforce to select from and with vacancy rates so high, tenants have great negotiating power for lease agreements upon move in. Please see our office space articles for more info.

Detroit Economy

The estimated population of Detroit is 3,903,377 in the city center and roughly 4,425,110 in the metropolitan areas. It has been touted as one of the densest areas in the state of Michigan for many years. There is a wealth of commercial developments in the area. The surrounding areas are home to the Big Three automobile companies including General Motors, Ford and Chrysler. The city is an important center for global trade with international firms of law and many other industries. Downtown Detroit accounts for 80,500 jobs and roughly 21% of the city’s overall employment. Aside from automotive industry, the labor force is employed in construction, manufacturing, trade, transportation, finance, education, leisure and hospitality as well as other different career and vocation opportunities. The area relies heavily on automotive cycles and has recently been hit hard due in large part to the faltering economy. Despite the fact that there are a lot of different industries in the Detroit area to follow different career paths, the unemployment rate has hit 15.4% in recent months. Some sources have stated that in late 2009 the unemployment rate hit a staggering 50% causing millions to lose their livelihood with little to no hope of employment opportunities. Detroit was once known for having one of the highest concentrated numbers of violent crimes. The rate of violent crimes dropped 11 percent in 2008 and has been dropping considerably in recent years. It has been said that the decline is consistent with national trends but the Police Commissioner states that it is in direct relationship to ramped up police efforts. Detroit might be a hard city to look at in regards to commerce but there are a lot of options to take advantage of in this history rich city. There are opportunities from higher learning to vocations in industry, finance and much more. For entrepreneurs that really want a shot at making it big, Detroit could be a great option to chase down the American dream. So if you are trying to lease Detroit office space then check out our website. We offer a free service and will help you find the best office space in Detroit.