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Cincinnati Market Reports

Cincinnati Office Market Report

Average Asking Rent (Price/SF)   $19.30
Availability Rate (%)     20.4%
Net Absorption (SF)      N/A

The Greater Cincinnati office market continued to perform well in the second quarter of 2018 with 128,850 square feet of positive net absorption, nearly 20.0% more than in the previous quarter. Year-to-date net absorption for 2018 totaled 236,520 square feet, a marked increase from the 95,420 square feet recorded in 2017. The market's vacancy rate, which has been steadily declining since the third quarter of 2017, sat at 20.2% in the second quarter. Available space tallied 7.5 million square feet. With so much inventory, available rental rates are expected to remain unchanged for the near term. Developers will focus on renovation and redevelopment of existing inventory.

Cincinnati Industrial Market Reports

Average Asking Rent (Price/SF)         $4.41
Availability Rate (%)          4.2%
Net Absorption (SF)          N/A

The Greater Cincinnati industrial market performed well in the second quarter of 2018 with 1.7 million square feet of positive net absorption, nearly 10% greater than the previous quarter. Year-to-date net absorption totaled 3.3 million square feet. The vacancy rate has been steadily declining since the third quarter of last year and currently sits at 2.8%. This is the lowest vacancy the market has seen in the last 18 years. Additionally, available space sat at 11.3 million square feet at quarter's end. With so little inventory available, rental rates are expected to moderately increase in the near term. The lack of available space should encourage developers to focus on speculative and build-to-suit projects.



Cincinnati Office Market Report
2Q18
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Cincinnati Industrial Market Report
2Q18
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