Weathering the worst of the pandemic
The first quarter of 2022 shows signs of stabilization while uncertainty hinders the road to recovery.
- The Cincinnati office market posted another quarter of negative absorption at 113 thousand square feet.
- The first quarter of 2022 resulted in a vacancy rate of 15.6%.
- Average asking rates fell to $18.84 from $19.18. Still up year-over-year.
- Construction activity is down, and new supply deliveries were light with 45 thousand square feet of deliveries within the quarter.
