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Regional Summaries

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Cincinnati, OH

Apartment
Occupancy in the 108,281-unit Cincinnati apartment market remained steady in the fourth quarter of 2015 at 3.2%, unchanged from the third quarter and up 10 basis points over 12 months. Monthly data from Reis record no change in vacancy in January. Reis reports a fourth quarter 2015 average asking rent of $808 per month, up 3.2% year-over-year. The average effective rent of $776 per month was also up 3.2% for the year. Asking and effective rents posted gains of 0.6% and 0.7% in the fourth quarter. Asking and effective rents rose 0.3% in January. VIEW APARTMENT LISTINGS >
Industrial
Cincinnati’s warehouse/distribution market finished the fourth quarter of 2015 with a vacancy rate of 10.8%, up 10 basis points from the prior quarter but down 60 from 12 months earlier. The rate fell to 10.7% in January. Reis reports fourth quarter average asking and effective rents of $3.26 psf and $3.03 psf, up 0.9% and 1.0% over the quarter, and up 1.6% and 2.0% over the year. For Flex/R&D space, Reis reports fourth quarter vacancy at 11.9%, down 10 basis points from the prior quarter and down 290 basis points year-over-year. The rate was 11.8% in January. Average asking and effective rents finished the fourth quarter at $6.16 psf and $5.65 psf, both up 0.5% for the quarter, and up 1.7% and 1.8%, respectively, for the year. VIEW INDUSTRIAL LISTINGS >
Office
Cincinnati’s general purpose, multi-tenant office market finished the fourth quarter of 2015 with a vacancy rate of 19.4%, down 60 basis points from the prior quarter and down 40 year-over-year. The rate inched down to 19.2% by January. Rents rose in the fourth quarter, posting 0.2% and 0.3% respective gains for asking and effective rates. Year-over-year gains were 0.9% and 1.1%, finishing the quarter at $19.25 psf and $15.33 psf. Asking rents fell by 0.1%, and effective rents were flat in January. VIEW OFFICE LISTINGS >
Retail
The vacancy rate in Cincinnati’s community-neighborhood shopping center market was 12.3% in the fourth quarter of 2015, unchanged for the quarter but up 30 basis points over the year, according to Reis. The January vacancy rate was 12.2%. The fourth quarter community-neighborhood center asking rent of $15.24 psf is up 0.2% from the previous quarter’s rate and up 1.3% over the year. The average effective rent of $12.85 psf is up 0.2% for the quarter and 1.3% for the year. January followed with 0.1% and 0.2% gains for asking and effective rents. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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