Cincinnati Office Market Report
| Average Asking Rent (Price/SF) | $19.37 |
| Availability Rate (%) | 20.5% |
| Net Absorption (SF) | -25,324 |
The Greater Cincinnati office market performed poorly compared to the second quarter of 2020. Tenants vacated space at a higher rate than the previous quarter, which resulted in (25,324) square feet of negative net absorption. Availability decreased from the second quarter to 20.7%, yet the gap between vacancy and availability expanded, which suggested that market occupancy was falling quickly. The third quarter’s negative absorption is mainly attributable to the moveout and subleases offerings in multiple buildings and submarkets with little new leasing activity to offset.
Download Cincinnati Office Market Report 3Q20Cincinnati Industrial Market Reports
| Average Asking Rent (Price/SF) | $4.38 |
| Availability Rate (%) | 7.8% |
| Net Absorption (SF) | 956,049 |
After a below-average second quarter of 2020 that posted positive net absorption of 392,356 square feet, the Greater Cincinnati industrial market bounced back in third-quarter 2020, with an overall positive net absorption of 956,049 square feet. The overall market’s average vacancy rate remained considerably below the long-term average at 5.8%. The negative effects of COVID-19 on the Greater Cincinnati industrial market is starting to wear off. Demand was significantly up for the third quarter as companies started to become more active in their search for space.
Download Cincinnati Industrial Market Report 3Q20