Most listings are in the $20's per square foot per year. The Farmington submarket is going through a an increase in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 3% increase in rent.
Compared to the rest of the Metro Detroit market, the Farmington region has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 1315 listings have come on the market, so you'll want to check back regularly for new listings. About 3% of the available space in the Farmington 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.
The standard measurement for office space in this area is around 1,670 sqft. Most properties in this region are close to 1 floors. Most buildings in this market were built in 1985 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Manufacturing is the dominant industry in this market. Commute by taxi is the most popular way to get to work amongst Farmington residents. Commuting under 5 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 Farmington.
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