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After a record-setting first quarter for the Greater Cincinnati industrial market, activity was more modest in Q2 2017. Vacancy is currently 3.3%; a 30 basis point (bps) increase over Q1 2017. However, vacancy remains 75 bps lower on a year-over-year basis. Remarkably, vacancy has been under 5% since the beginning of 2015, and Greater Cincinnati has experienced 24 consecutive quarters of positive net absorption.
Following a record-setting 4 million square feet (msf) of net absorption in Q1 2017, the market followed-up with 163,000 square feet (sf) of net absorption in Q2 2017; the lowest amount of quarterly net absorption in more than five years. At more than 4.1 msf for the year, cumulative net absorption in 2017 is still likely to exceed the 5.0 msf from 2016.
Source : Cushman & Wakefield
