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Cincinnati Market Reports

Cincinnati Office Market Report

Average Asking Rent (Price/SF)     $19.33
Availability Rate (%)       19.9%
Net Absorption (SF)   (21,565)

The Greater Cincinnati office market continued to hold fast in the fourth quarter of 2018. Vacancy remained at 16.8%, while availability fell 110 basis points to 19.9%. Quarterly net absorption dipped slightly into the negative by 21,565 square feet. However, there were no substantive tenant vacancies that impacted the absorption, which was the primarily the result of sublease space becoming vacant. The tightening of the gap between vacancy and availability suggests that market occupancy was stable. The long-term outlook is a market that is rightsizing itself. In fact, excess inventory Downtown is being converted into multi-family uses, leaving the remaining office inventory more competitive.

Cincinnati Industrial Market Reports

Average Asking Rent (Price/SF)          $4.51
Availability Rate (%)            4.5%
Net Absorption (SF)   1,660,639

The solid fundamentals of the Greater Cincinnati industrial market continued to deliver a strong performance in the fourth quarter of 2018. The quarter saw 1,660,639 square feet of positive net absorption, an increase of more than 500,000 square feet from the prior quarter, as leasing activity picked up at year-end. Overall net absorption for 2018 totaled 4.3 million square feet. The vacancy rate fell to 2.7% and represented 6.2 million square feet of vacant rentable space. Availability remained at 12.2 million square feet. The trend of positive absorption is expected to continue even with low availability levels. This was due in part to 2.6 million square feet of new inventory that was under construction at the close of the year.

Cincinnati Office Market Report
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Cincinnati Industrial Market Report
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