Industrial vacancies keep falling in Cincinnati market

van trust specby Dan Rafter

The industrial market in greater Cincinnati continues its hot streak, with bulk warehouse vacancies at all-time lows, according to the latest research from CBRE.

According to CBRE’s third-quarter industrial report, bulk warehouse vacancies ended the third quarter with a vacancy rate of just 4.8 percent. The report also said that the greater Cincinnati market has seen more than four straight years of positive net absorption in its industrial market. So far for 2014, the market has seen 3.4 million square feet of industrial absorption.

Some of the bigger projects in the Cincinnati area include IDI’s 786,435-square-foot inventory facility. IDI recently started construction on this facility at the Park South industrial park in Richwood, Ken.

DCT industrial also notched a major industrial deal, selling an 840,000-square-foot complex at Port Union Commerce Park to Founders/Opus Group. The buyer has plans to build an additional industrial development on the 98-acre site.

Van Trust has made an impact, too, recently completing a 273,600-square-foot spec warehouse in Hebron, Ken.

In all, new construction activity in the Cincinnati industrial market now totals more than 2.1 million square feet. This is the highest this figure has stood since 2008.

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This entry was posted in Cincinnati commercial real estate, industrial real estate, Ohio commercial real estate and tagged , , , , , . Bookmark the permalink.

3 Responses to Industrial vacancies keep falling in Cincinnati market

  1. mpclark says:

    Thanks to Dan Rafter for another good job.

    Cincinnati rarely hears accurate real estate news from local print media. This editor covers a lot of pertinent news and in a timely manner.

    Real estate professionals enjoy this blog. Rafter makes the effort and it shows.

  2. rejblog says:

    HI, There: Just wanted to say thanks for the kind words. I appreciate them.

  3. m.s.Woods says:

    If you want a good predictor of the economy, I think the industrial sector is a good place to start, since changes in industrial production usually foreshadow changes in anticipated consumption. –Mike Woods

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