On average, listings lease in the $20's per square foot per year. The Franklin submarket is experiencing a an increase in rates. In the last 3 months, the median rate went up $3 per sqft per year. That's a 12% rise in rent.
Compared to the rest of the Metro Detroit market, the Franklin submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 4 listings have been made available, which means new listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,150 sqft. Most buildings in this area are close to 2 floors. Most buildings in this region were built in 1976 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 area. Commute by bike is the most popular way to get to work amongst Franklin residents. Commuting close to 15 minutes a day is the norm for those who opt to reside in this part of town.