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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.