Report | Cincinnati Office Insight - Q4 2015
Rents across Cincinnati’s office market rose even further in Q4—with most tenants showing their preference for Class A (16.5 percent vacancy rate) over Class B product (21.2 percent vacancy rate).
We expect that vacancy gap to shrink in 2016, however, with a continued tightening of the Class A market and rising rents, forcing tenants to look elsewhere for new space.
Office construction momentum also continued to build in Q4 as medical users dominated the majority of development. Mercy Health’s 365,000 square foot headquarters in Bond Hill led the way, with Tri-Health’s medical office (112,000 square feet) and Tri-Health’s Rehabilitation Hospital (60,000 square feet) also taking up significant blocks of space.
Learn more about what’s happening—and what we expect to occur in the coming months—in Cincinnati’s office market in our Q4 US Office Insight.
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