Cincinnati Office Market Reports – Quarter 1, 2017
The Cincinnati office market ended the first quarter with a vacancy rate examined at 9.4%. The vacancy rate was up over fourth quarter of 2016, with the total net absorption rate totaling negative 263,542 square feet. Rental rates in the Cincinnati office market increased over the last quarter to $16.47 per square foot. The Cincinnati Office market did see one of the largest transactions in the last four quarters occur with the purchase of a 338,146 square foot office building. This large transaction was purchased by GE U.S. Global Operation Center in Cincinnati for $107,279,054 or $317.26 per square foot increasing the average square foot costs of office sales activity.
NAI Bergman is currently involved with the leasing, selling, and property management of office, retail, industrial, land, multi-family, special-purpose, medical, and other properties throughout Cincinnati, Dayton, Northern Kentucky and Southeast Indiana. View our market reports for information on the Cincinnati and Dayton markets. Information has been gathered from these markets to bring you a consolidated look at the Retail, Industrial and Office market space. Although we try to ensure that all information is reliable, NAI Bergman makes no guarantee, representation or warranty regarding the quality, accuracy, timeliness or completeness of the information. This information is provided ‘as is’ and should be independently confirmed. NAI Bergman holds no warranties of any kind regarding market reports. Click here for more information regarding Terms and Definitions. NAI Bergman is part of NAI Global network. NAI Global is the largest, most powerful global network of owner-operated commercial real estate firms actively managed to deliver seamless, exceptional performance to corporate real estate clients with local, regional or global needs.
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About NAI Bergman
NAI Bergman provides comprehensive brokerage, leasing, property management, receivership services, and facility/construction management to the Greater Cincinnati, Dayton, Northern Kentucky and Southeast Indiana commercial real estate marketplace. Our collaborative services platform, expansive, yet nimble responsive structure which enables efficient, full services delivery of all elements of Commercial Real Estate Services to the region. NAI Bergman’s four generations of success is a direct result of its unwavering commitment to provide the best possible service to each and every client.
NAI Bergman is involved with the leasing, selling, and property management throughout Cincinnati, Dayton, Northern Kentucky and Southeast Indiana. Our skilled professional specialize in office, retail,industrial, land, multi-family, special-purpose, medical, and other properties.
To learn more, visit www.naibergman.com.
About NAI Global
NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million square feet of property. Supported by the central resources of the NAI Global network, member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.
To learn more, visit www.naiglobal.com and www.naiglobalnewslink.com.
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