The Cushman & Wakefield I CRESCO Q4 2018 MarketBeat Industrial report has been published.
Market vacancy in Northeast Ohio Industrial real estate decreased reaching 3.4% at the end of 2018 and leasing activity was up significantly for both industrial and office services/flex with 1.9 million square feet (msf) of renewals and new leases in the fourth quarter.
New construction saw 518,100 sf delivered in the fourth quarter as several projects carried into 2019 with 3.3 msf currently under construction.
User sales activity remained slow since the start of the year, with 1.2 msf transferring in the fourth quarter, as a result of the continued the lack of quality inventory.
The Cushman & Wakefield I CRESCO Q4 MarketBeat Industrial report explores these trends along with the outlook for 2019 in industrial real estate in Cleveland and Northeast Ohio.
Click here to view the full report
George J. Pofok, CCIM, SIOR Senior Vice President
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.