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Cincinnati, OH

Apartment
Vacancy in the 110,310-unit Cincinnati apartment market was down 10 basis points in the fourth quarter of 2016 to 3.9%. The rate was unchanged in February 2017. Reis reports a fourth quarter 2016 average asking rent of $844 per month, up 3.8% year-over-year. The average effective rent of $813 per month was up 4.1% over the same time span. Rents posted gains of 0.4% asking and 0.3% effective in the fourth quarter. This was a good year for multifamily landlords. Asking and effective rents rose 0.5% and 0.4% in January 2017, then fell 0.4% and 0.3% in February. VIEW APARTMENT LISTINGS >
Industrial
Cincinnati’s warehouse/distribution market finished the fourth quarter of 2016 with a vacancy rate of 10.8%, down 60 basis points from the prior quarter and up 10 from 12 months earlier. The rate was 10.6% in February 2017. Reis reports fourth quarter average asking and effective rents of $3.32 psf and $3.09 psf, respectively, up 0.6% and 0.7% over the quarter, and up 1.8% and 2.0% year-over-year. For Flex/R&D space, Reis reports fourth quarter 2016 vacancy at 12.3%, up 40 basis points from the prior quarter and up 20 basis points year-over-year. The rate is 12.3% in February 2017. Average asking and effective rents finished the fourth quarter at $6.25 psf and $5.74 psf, respectively, up 0.5% for the quarter, and up 1.5% and 1.6% year-over-year. VIEW INDUSTRIAL LISTINGS >
Office
The Cincinnati general purpose, multi-tenant office market’s fourth quarter 2016 vacancy rate of 16.6% was up 20 basis points from the prior quarter and down 70 year-over-year. The rate for February 2017 is 17.0%. Asking and effective rents rose 0.7% in the fourth quarter, with year-over-year gains of 1.2% asking and 1.4% effective, finishing at $19.48 psf and $15.55 psf, respectively. Overall asking and effective rents rose 0.3% in February 2017. VIEW OFFICE LISTINGS >
Retail
The vacancy rate in Cincinnati’s 22.3-million-square-foot community-neighborhood shopping center market was 12.0% in the fourth quarter of 2016, down 10 basis points for the quarter and down 10 basis points year-over-year, according to Reis. The February 2017 rate was 12.2%. The fourth quarter community-neighborhood shopping center market asking rent of $15.38 psf is down 0.1% from the previous quarter and up 0.9% year-over-year. The average effective rent of $12.98 psf is down 0.2% for the quarter and up 1.0% year-over-year. Asking and effective rents gained ground in January and February 2017, posting respective gains of 0.3% and 0.2% the latter month. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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