On average, listings lease in the $20's per square foot per year. The Franklin region is going through a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 6% decline in rent.
Compared to the rest of the Metro Detroit market, the Franklin region has smaller rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 388 listings have been posted online, so you'll want to check back regularly for new listings. About 3% of the available space in the Franklin are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 2,620 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are approximately 2 floors. Most buildings in this area were built in 1977 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Wholesale trade is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Franklin residents. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Franklin.
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