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Industrial investing in the Detroit area has been in a stagnated position for six months or so, with the annual sales volume at $683 million from 530 recorded transactions. That’s below the longer-term averages for the area.

Over the past decade, industrial sales in Detroit have averaged $790 million per year. But with a relatively healthy market, and barring further unforeseen economic or geopolitical challenges, a resurgence in sales volume among Detroit’s industrial properties could happen.

Sales of logistics properties worth $422 million drove volume over the past year, while specialized sales soaked up an additional $191 million. Detroit West had the highest sales volume among Detroit-area submarkets, with $138 million in sales from 48 transactions, and logistics sales accounting for $109 million. The Airport District, a logistics hub for the Detroit area, had the second-highest sales volume at $124 million, with logistics accounting for $101 million. The Airport District and Detroit West accounted for almost 43% of Detroit’s total volume.

Vacancy here has compressed slightly by just under 20 basis points to 3.8% and is sitting just above the all-time low. Flattened vacancy rates result from tenant demand returning to healthier levels this year, with net absorption—or the change in the number of square feet occupied—of 4.6 million square feet. While the construction pipeline is active, with 5.5 million square feet underway, this represents less than 1% of Detroit’s 620 million square feet of industrial inventory.

The pipeline has been completing projects at a digestible level for the market over the past few years, and the amount now underway is 58% preleased, so there should be little supply side pressure on the market in the near term.

This article originally appeared on CoStar Insight. It has been reprinted here with permission.