The Cincinnati industrial market is showing no signs of a slowdown, according to the latest numbers from CBRE.
CBRE reported that the availability rate in the Cincinnati industrial market fell from 5 percent to 4.4 percent in the second quarter of the year. This means that the Cincinnati market boasts one of the five lowest industrial vacancy rates in the country.
This doesn’t look to change soon. CBRE says that the greater Cincinnati industrial market continues to absorb space in high volumes, seeing more than 2.3 million square feet of net absorption in the second quarter and more than 3.5 million for the entire year.
This industrial market has been strong for a long time. CBRE reports that the since the first quarter of 2012, the Cincinnati industrial market has seen more than 19 million square feet of positive net absorption.
The area did not see any new industrial construction starts in the second quarter, but CBRE says that the region should see just under 3 million square feet of industrial completions in the third quarter of the year.