The Cleveland industrial market continued to make headway following its seven-year pattern of healthy gains. During the second quarter of the year, the market recorded 1.6 million square feet of positive net absorption, reducing the overall market vacancy rate by 20 basis points (bps) to 5.3%. Making it the third quarter in a row that vacancy has dropped by this amount. And recording 3.2 million square feet of absorption year-to-date.
