Industrial Real Estate is Still Hot in NE Ohio
Post date
May 10, 2021
Body
Mary Vanac, Cleveland Business Journal
The market for industrial space in Greater Cleveland has boomed recently but still has room to grow, according to a report by Newmark Knight Frank.
The market for warehouse, distribution and industrial space remained tight during the first quarter, achieving a new low vacancy rate of 4.5%, the report said.
As a result, more than 2.9 million square feet of industrial space was under construction by the end of March, the majority of which is slated to become speculative warehouses.