Michigan Business Beat | Rosekrans & Jamieson, Martin Commercial Properties - Office Market Update

Chris Holman welcomes back Eric Rosekrans, CCIM, Executive Vice President, Martin Commercial Properties Thomas Jamieson, SIOR, Senior Vice President, Martin Commercial Properties, Lansing, MI. This discussion covers MCPs Office Advisory Considering Office vacancy, where do things stand in your latest report? What strategies are landlords and tenants using to adapt to shifting work models and excess space? Smaller occupies wrre leading leasing activity—is that still the case? What types of businesses are driving this demand, and how does it shape the future of office space design? Given recent sales in the office sector, what trends are emerging given the buyers of these buildings? » Visit MBN website: www.michiganbusinessnetwork.com/ » Subscribe to MBN’s YouTube: www.youtube.com/@MichiganbusinessnetworkMBN » Like MBN: www.facebook.com/mibiznetwork » Follow MBN: twitter.com/MIBizNetwork/ » MBN Instagram: www.instagram.com/mibiznetwork/ The highly anticipated “Market Insights” report from Martin Commercial Properties provides an in-depth analysis of the region’s retail, industrial, and office real estate sectors. EAST LANSING, Mich. – Martin Commercial Properties has released its 2025 H1 Market Insights Report for the Greater Lansing Area, offering an in-depth analysis of commercial real estate conditions across the industrial, office, and retail sectors. The report points to increasing market stability and positive momentum, even as many industries continue to navigate broader economic uncertainty. MBN: MCP Van Martin “While the economic landscape remains mixed, commercial real estate in Greater Lansing is demonstrating resilience and steady forward progress,” said Van W. Martin, CCIM, SIOR, CRE, President and CEO of Martin Commercial Properties (left). “Across all three sectors, we’re seeing fundamentals that suggest the market is adjusting thoughtfully rather than pulling back.” According to the report, the industrial sector continues to be supported by historically high rental rates, limited availability of modern facilities, and sustained investment tied to manufacturing, logistics, and energy-related users. Demand for well-located, functional industrial space remains strong, underscoring the region’s competitiveness and long-term growth potential. 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. Retail performance remains strongest in established corridors, where consistent leasing activity, redevelopment of formerly vacant spaces, and targeted new construction continue to reinforce neighborhood and necessity-based retail demand. Prime locations are outperforming the broader market, reflecting disciplined expansion by retailers and continued consumer engagement. MBN: MCP GL “Greater Lansing’s commercial real estate market is evolving in a measured and responsible way,” Martin added. “The data shows continued confidence in quality assets, strategic reinvestment, and a foundation that supports long-term economic health across the region.” About Martin Commercial Properties: Martin Commercial Properties is one of Michigan’s leading independent commercial real estate firms, with a legacy spanning over 60 years. Renowned for its unparalleled expertise, influence, and client-centric approach, Martin Commercial Properties offers a complete range of commercial real estate services, including brokerage, property development, property management, investment services, and corporate solutions. Full reports can be found at https://martincommercial.com/marketinsights/ ####