Cincinnati office insight - Q2 2018
Suburban markets have seen robust activity throughout the second quarter, largely anchored by the Blue Ash/Montgomery submarkets. Last year, the Blue Ash/Montgomery submarket, Cincinnati’s largest suburban submarket, had a rather uncharacteristic year consisting of negative absorption, and increases in vacancy with several large companies vacating and consolidating within the market.
So far in the second quarter, Blue Ash is beginning to see a comeback with the most notable transaction being, Enterprise Holdings’ 33,000-square-foot lease at McAuley Place. In West Chester, AK Steel’s 135,000-square-foot headquarters was purchased by Cole Real Estate Income Strategy for $183 per square foot.