Cincinnati Office Market Report
|Average Asking Rent (Price/SF)||
|Availability Rate (%)||22.5%|
|Net Absorption (SF)||
The Cincinnati office market’s statistics in the first quarter of 2022 continued to reflect the lack of space needed, but numbers started to improve from recent previous quarters. Class A absorption was -98,838 square feet for the first quarter of 2022, compared to -24,348 square feet for Class B buildings.
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Cincinnati Industrial Market Reports
|Average Asking Rent (Price/SF)|
|Availability Rate (%)||4.2%|
|Net Absorption (SF)|
The fourth quarter of 2021 was very active, posting positive net absorption of 3.7 million square feet; the Greater Cincinnati industrial market posted nearly the same number in the first quarter of 2022, with an overall positive net absorption of nearly 3.6 million square feet. The overall average vacancy rate lowered to 3.7%. Rental rates have been on a consistent upward pace for the past five years. The overall average asking rental rate ended the first quarter of 2022 at $4.61/SF.
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