CINCINNATI, DAYTON, OH—The revival of the auto industry and growth of consumer spending, among other factors, has revived the market for industrial properties in much of Ohio. The Cincinnati/Dayton metropolitan area, for example, has attracted greater interest from industrial occupiers and investors. Cincinnati and its suburbs started off the year with nearly 1.3-million-square-feet of positive net absorption, according to Xceligent’s 1st Quarter 2014 Industrial Market Trends report. And Dayton companies also appeared busy, as that area also saw about 1.3-million-square-feet of positive net absorption.

The market for bulk warehouses was particularly healthy. In Dayton, these properties accounted for 484,420-square-feet of absorption, and the vacancy rate for them sank to only 6.8%. Around Cincinnati, bulk warehouses accounted for 820,109-square-feet of absorption. High-quality bulk warehouse space has become scarce, especially in the key Northern Kentucky submarkets of Florence/Richwood and Airport, which Xceligent reports have vacancy rates of 0.5% and 1.7%, respectively, for these buildings.

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