What the Suburban Office Vacancy Rate Isn’t Telling You

If you’ve looked at recent office market data for suburban Detroit, Michigan, the headline number isn’t encouraging. Vacancy across the suburban office market is hovering around 22 percent, a figure that suggests a market still working through years of post-pandemic recalibration. Talk to a broker who’s actually in these buildings every week, though, and the picture gets more specific and more useful.

All eyes are on the U.S. 10-year Treasury yield and what its rapid ascent could mean for the ongoing recovery in CRE. A much-talked-about “ceiling” of 4.5% has been reached. Above this level, analysts say the market may at least be forced to reckon with a new lending environment. At worst, it may face a sustained period of repricing. How long the current yield increase will stick is anyone’s guess, but with the 10-year Treasury hitting a 16-month high this week, market participants are taking a longer look at the implications.

The commercial real estate sector as a whole and transaction activity within specific sectors are seeing positive growth this year, according to CORFAC’s 2026 Spring Market Survey. Respondents from across the global network are expressing optimism about the market’s performance and the prospects for their businesses this year.

With my term as 2026 CORFAC President underway, I’m thrilled to continue investing in our collaborative global network of independent commercial real estate firms. Our strength lies in the expertise and local market leadership of our members, and one of my primary goals is to amplify the value those firms deliver to one another and to clients.

CORFAC International is proud to announce the winners of our 2025 COR$TAR Awards, which recognize the largest member-to-member referral transactions completed within the global network last year. The awards highlight the power of collaboration among CORFAC’s member firms and the value delivered to clients when members collaborate across markets.