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Cincinnati Market Reports

Cincinnati Office Market Report

Average Asking Rent (Price/SF)   $19.50
Vacancy Rate (%)     17.7%
Net Absorption (SF) 163,253

The Greater Cincinnati office market rebounded slightly in the second quarter of 2017, after experiencing the trailing effects of a few large office user relocations in 2016. The market posted 163,000 square feet of positive net absorption during the second quarter, driven by the completion of several new lease transactions. In the suburban submarkets, Dover Business Services leased 36,000 square feet at Blue Ash Corporate Center, Assurex Health leased 24,000 square feet in Seapine Software's Headquarters in Mason, and MarketVision Research leased 20,000 square feet at Pfeiffer Woods in Blue Ash.

Cincinnati Industrial Market Reports

Average Asking Rent (Price/SF)         $4.10
Vacancy Rate (%)          3.1%
Net Absorption (SF)    468,000

The Greater Cincinnati industrial market remained strong through the second quarter of 2017 despite failing to recreate its record-breaking first-quarter, which had yielded an all-time low vacancy of 3.0% and over 3.3 million square feet of positive net absorption. The second quarter saw a slight uptick in vacancy to 3.1%, which was partially due to the delivery of Citimark's 534,560 square-foot speculative development in the Blue Ash submarket. Positive net absorption for the industrial market was a healthy 467,913 square feet in the second quarter.



Cincinnati Office Market Report
2Q17
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Cincinnati Industrial Market Report
2Q17
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