Office - Martin Commercial https://martincommercial.com Market leaders in commercial real estate. Thu, 23 Jul 2026 15:14:34 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 https://martincommercial.com/wp-content/uploads/2021/01/cropped-Fletching-1-32x32.png Office - Martin Commercial https://martincommercial.com 32 32 Office Market Stable as Downtown Continues to Evolve https://martincommercial.com/research-files/office-market-stable-as-downtown-continues-to-evolve/?utm_source=rss&utm_medium=rss&utm_campaign=office-market-stable-as-downtown-continues-to-evolve Thu, 23 Jul 2026 15:14:34 +0000 https://martincommercial.com/?post_type=martin_research_file&p=5324 Although stable, the office market was subdued as it continued adjusting to hybrid work patterns, reduced large-user demand, and the State of Michigan's ongoing transition from leased space into state-owned facilities.

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]]> Although stable, the office market was subdued as it continued adjusting to hybrid work patterns, reduced large-user demand, and the State of Michigan's ongoing transition from leased space into state-owned facilities.

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]]> Signs of Stability Amid Ongoing Change https://martincommercial.com/research-files/signs-of-stability-amid-ongoing-change/?utm_source=rss&utm_medium=rss&utm_campaign=signs-of-stability-amid-ongoing-change Mon, 26 Jan 2026 16:16:38 +0000 https://martincommercial.com/?post_type=martin_research_file&p=5104 The office market is showing early signs of stabilization as obsolete inventory is removed, sublease space declines, and tenants increasingly prioritize high-quality, well-located buildings. While challenges remain, particularly in older properties, leasing activity and owner-occupier interest are helping rebalance the market.

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]]> The office market is showing early signs of stabilization as obsolete inventory is removed, sublease space declines, and tenants increasingly prioritize high-quality, well-located buildings. While challenges remain, particularly in older properties, leasing activity and owner-occupier interest are helping rebalance the market.

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]]> Signs of Stability Amid an Evolving Landscape https://martincommercial.com/research-files/signs-of-stability-amid-an-evolving-landscape/?utm_source=rss&utm_medium=rss&utm_campaign=signs-of-stability-amid-an-evolving-landscape Mon, 14 Jul 2025 13:25:26 +0000 https://martincommercial.com/?post_type=martin_research_file&p=4425 Vacancy in the office market held steady at 22.4%, as small gains in the East, North, South, and West Submarkets helped offset larger move-outs in the CBD. Total absorption landed near zero (-1,088 SF), but key leases—including Deloitte (25,000 SF) and Spicer Group (16,000 SF)—signaled renewed activity. As hybrid work stabilizes, flexible lease terms and shorter commitments are redefining how landlords engage with tenants and investors assess assets.

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]]> Vacancy in the office market held steady at 22.4%, as small gains in the East, North, South, and West Submarkets helped offset larger move-outs in the CBD. Total absorption landed near zero (-1,088 SF), but key leases—including Deloitte (25,000 SF) and Spicer Group (16,000 SF)—signaled renewed activity. As hybrid work stabilizes, flexible lease terms and shorter commitments are redefining how landlords engage with tenants and investors assess assets.

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]]> Vacancy Inches Up as Greater Lansing Continues to Register Negative Absorption https://martincommercial.com/research-files/vacancy-inches-up-as-greater-lansing-continues-to-register-negative-absorption/?utm_source=rss&utm_medium=rss&utm_campaign=vacancy-inches-up-as-greater-lansing-continues-to-register-negative-absorption Thu, 13 Feb 2025 16:55:36 +0000 https://martincommercial.com/?post_type=martin_research_file&p=4179 The Greater Lansing office market saw a slight uptick in vacancy to 21.9% in H2 2024, with CBD properties continuing to lag behind suburban assets. Leasing volume remained steady, though transaction values declined as companies downsized and favored shorter-term leases.

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]]> The Greater Lansing office market saw a slight uptick in vacancy to 21.9% in H2 2024, with CBD properties continuing to lag behind suburban assets. Leasing volume remained steady, though transaction values declined as companies downsized and favored shorter-term leases.

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]]> Market Stabilizes; Vacancy Remains at 20-Year High https://martincommercial.com/research-files/market-stabilizes-vacancy-remains-at-20-year-high/?utm_source=rss&utm_medium=rss&utm_campaign=market-stabilizes-vacancy-remains-at-20-year-high Mon, 12 Aug 2024 14:25:27 +0000 https://martincommercial.com/?post_type=martin_research_file&p=3652 Smaller occupiers account for the bulk of leasing activity while tenant-friendly market conditions are expected to persist throughout 2024.

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]]> Smaller occupiers account for the bulk of leasing activity while tenant-friendly market conditions are expected to persist throughout 2024.

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]]> H2 2023 Office Insights https://martincommercial.com/research-files/h2-2023-office-insights/?utm_source=rss&utm_medium=rss&utm_campaign=h2-2023-office-insights Mon, 29 Jan 2024 14:40:42 +0000 https://martincommercial.com/?post_type=martin_research_file&p=3662 Slowdown in Leasing Activity Pushes Vacancy to 20-Year High

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]]> Slowdown in Leasing Activity Pushes Vacancy to 20-Year High

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]]> 2022 H2 Office https://martincommercial.com/research-files/2022-h2-office/?utm_source=rss&utm_medium=rss&utm_campaign=2022-h2-office Mon, 31 Jul 2023 13:01:40 +0000 https://martincommercial.com/?post_type=martin_research_file&p=3056 Hybrid Work Continues to Curb Demand; Market Stabilizes into New “Normal” https://martincommercial.com/research-files/2023-h1-office/?utm_source=rss&utm_medium=rss&utm_campaign=2023-h1-office Sat, 15 Jul 2023 16:00:53 +0000 https://martincommercial.com/?post_type=martin_research_file&p=3160 The average market vacancy rate remained flat, increasing 2 basis points over H2 2022 figures and 1 basis point over H1 2022 numbers, suggesting a new "normal."

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]]> The average market vacancy rate remained flat, increasing 2 basis points over H2 2022 figures and 1 basis point over H1 2022 numbers, suggesting a new "normal."

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]]> 2022 H1 Office https://martincommercial.com/research-files/2022-h1-office/?utm_source=rss&utm_medium=rss&utm_campaign=2022-h1-office Mon, 20 Feb 2023 15:54:33 +0000 https://martincommercial.com/?post_type=martin_research_file&p=2814 2021 H2 Office Market Insights https://martincommercial.com/research-files/2021-h2-office-market-insights/?utm_source=rss&utm_medium=rss&utm_campaign=2021-h2-office-market-insights Thu, 28 Jul 2022 18:50:09 +0000 https://martincommercial.com/?post_type=martin_research_file&p=2331