Figures

Cleveland Office Figures Q4 2025

January 9, 2026 10 Minute Read

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Net absorption increased to positive 73,905 square feet (sq. ft.) from negative 37,519 sq. ft. in Q3 2025.
Leasing activity totaled 216,778 sq. ft. despite limited tenant movement in Q4 2025.
The Cleveland office market recorded a 9.6% increase quarter-over-quarter in overall vacancy, in large part due to Sherwin-Williams vacating 900,000 sq. ft. at Landmark Towers to occupy their new build-to-suit in the Downtown submarket.
The 1 million sq. ft. Sherwin-Williams headquarters at 1 Frankfort Avenue delivered in Q4 2025, marking the largest addition to the local office inventory since Q4 2023.
Average overall asking rates declined $0.33 quarter-over-quarter to $19.10 per sq. ft.