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Cincinnati Industrial 21Q4 Report

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Fourth Quarter Activity Sets Records

A fourth quarter surge caps off a record-breaking 2021 in the Greater Cincinnati market, despite ongoing supply and cost challenges.

  • Net absorption totaled 5.7 million square feet in Q4, contributing to a year-end total of 10.6 million square feet in 2021.
  • Vacancy fell to its lowest level since 2018, landing at 4.5%.
  • Construction activity rose to 6.5 million square feet despite elevated completion and absorption levels.
  • Rising bulk warehouse demand contributed to further market rental rate growth.

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Cincinnati Industrial 21Q4 Report

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Related Experts

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).

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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.

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