A research produced by
Q1 2017 was a record-setting quarter for the Greater Cincinnati industrial market. Direct vacancy is now under 3.0% marketwide for the first time in over 15 years. While vacancy has been low for more than two years, the vacancy rate fell by nearly 125 points from 4.2% at the end of the first quarter of 2016. Even with consistently low vacancy Greater Cincinnati has experienced 23 consecutive quarters of positive net absorption.
While vacancy is at a near-record low, the market saw a recordsetting 4.0 million square feet (MSF) of net absorption in the first quarter of 2017. By comparison, cumulative net absorption was 5.0 MSF for all of 2016. The record-setting absorption can be attributed to extremely strong leasing activity combined with minimal move-outs of large blocks of space.
Source : Cushman & Wakefield
