Cleveland Office Outlook – Q1 2022
An in-depth look at the leasing, sales, construction, and employment in the Cleveland office market.
April 01, 2022
- Andrew Batson
- Joe Warren
The Cleveland office market saw continued improvement in Q1 with absorption totaling more than 137,000 square feet. This was the second consecutive quarter of positive absorption following five quarters of negative absorption during peak pandemic. Tenants continue to take sublease space off the market, contributing to the positive change. Similarly, roughly a third of occupiers expanded their footprint.
Download our Q1 2022 Cleveland Office Outlook provides a more detailed look at vacancy, asking rental rates, supply and demand, construction, and employment activity in the office market.