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Q4 2018 Cleveland Office MarketBeat Report Now Available

Fourth quarter 2018 was another strong quarter for commercial real estate in the office market across northeast Ohio, with vacancy rates dropping to 8.2% and asking rates jumping up an average of $17.66 per square foot (psf) gross.

Rental rates in both the CBD and the suburban markets continue to climb at a modest pace, and vacancy rates continue to drop. New Class A mixed-use development projects in the CBD are expected to add the needed supply to the market.

There is good reason to expect a strong beginning to 2019 in the office space sector, and the Cleveland market will continue to be the beneficiary of the current local and national market conditions.

The Cushman & Wakefield I CRESCO Q4 MarketBeat Office report explores these trends along with breaking down submarket details. Click here to view the full report.

For more information, contact:

David Leb

dleb@crescorealestate.com

To learn more about how CRESCO, Greater Cleveland’s leading commercial real estate company, can help you with your property needs, contact us at 216.520.1200, or fill out the form below. A CRESCO professional will contact you shortly.