Skip to main content Skip to footer

Cincinnati Industrial 21Q3 Report

Download Report
alt=""

Diverse Bulk Logistics Activity Elevates the Market

Occupier demand for bulk warehouse and distribution space leads the Greater Cincinnati market to another strong quarter. But a limited speculative supply pipeline may slow activity in the short-term. 

  • Net absorption totaled 1.6 million SF during Q3, resulting in a decline in vacancy to 6.0% and bringing the year-to-date total to 4.9 million SF.
  • The bulk warehouse and warehouse/distribution sectors saw the most leasing activity, particularly in the Airport and Tri-County submarkets.
  • Construction activity increased to 6.3 million square feet, well above the market’s five-year historical average of about five million square feet, but a recent lack of speculative projects remains a concern.
  • Overall rent growth has been supported by heightened warehouse/distribution demand after a modest decline in 2018.

alt=""

Cincinnati Industrial 21Q3 Report

Download Report
Related Experts

Loren DeFilippo

Senior Customer Success Lead

Cincinnati

Loren oversees all  research activities for Colliers'  Ohio markets including, Cincinnati, Cleveland, Dayton and Akron/Canton.  His responsibilities include the collection, aggregation and analysis of data regarding office, industrial, retail and  multifamily asset classes, along with capital markets.  He prepares reports documenting current economic and commercial real estate market  conditions and provides forecasts to assist brokers  and clients in making informed business decisions. A firm believer in the power of knowledge, Loren utilizes research as a marketing tool in conjunction with the firm's marketing and business development efforts. Loren leverages  his 30+ years of career experiences as an architect, a broker specializing in the leasing and sale of office properties and market researcher to accelerate the success of our brokers, clients and stakeholders.

 

View expert

Shenan Murphy

Vice Chairman

Cincinnati

Growing up, I always knew I wanted a job where I would be in control of my career path, and commercial real estate has allowed me to do that both personally and professionally. I began my career as a retail and investment broker in 1989. Today, I leverage my previous brokerage experience and knowledge to oversee the strategic and daily operations of Colliers International | Greater Cincinnati and Dayton. As the CEO, I make it a priority to provide the best strategic leadership and oversight to a truly remarkable team. In addition to commercial real estate, I have created a diversified and innovative family of companies providing brokerage sales, investment services, construction services, information technology services and property management services.

The experience I gained from holding a variety of positions throughout my career has allowed me to reach a broad base of clients and establish valuable relationships throughout Greater Cincinnati and Dayton. These relationships have provided the opportunity to aid some of the region’s most successful companies in making sound real estate decisions.

In addition to my daily responsibilities with Colliers, I find great joy being involved in my community. One of my personal goals is to help the Cincinnati community and those around me to move forward and grow with energy and purpose. I am a member of various organizations serving the community such as the University of Cincinnati Foundation (Board Member), the University of Cincinnati UCATS (Board Member), the University of Cincinnati Diamond Club for Baseball (Chairman), the University of Cincinnati College of Business (Real Estate Board Member), the Greater Cincinnati Regional Business Committee, and Cincinnati Young Presidents Organization.

I hold the CCIM commercial real estate designation and have affiliations with ICSC (International Council of Shopping Center), ULI (Urban Land Institute), and NAIOP (National Association of Industrial and Office Properties).

View expert

John Gartner

Sr.VP

Cincinnati

John joined Colliers International in 1992 and became one of the general partners in May 2002.  As a Senior Sales Vice President, he is responsible for industrial sales, leasing and appraisals.  John is very active as a leader in numerous professional and community activities.

View expert