Cincinnati Industrial Figures Q4 2022

MARKET OVERVIEW

‒ Demand in the Greater Cincinnati industrial market can be illustrated by the consistent leasing volume quarter over quarter. Leasing activity in the fourth quarter surpassed 2.4 million sq. ft. of transaction volume proving industrial product is still a hot commodity.

‒ Vacancy is down 20 bps quarter-over-quarter in the Greater Cincinnati industrial market, with a lean 2.5% overall vacancy rate in the fourth quarter of 2022.

‒ Nearly 1.5 million sq. ft. of net absorption was recorded led by the SanMar Corporation’s 234K sq. ft. deal in the Northeast submarket. This was the fifteenth consecutive quarter of positive net absorption.

‒ Over 2.7 million sq. ft. of construction was completed in Q4 2022. There is still nearly 10.4 million sq. ft. of projects currently under construction that are expected to be completed in the following quarters.