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Regional Multi-Family Market Interactive Research Dashboard

  
  
  
OKI Multifamily Dashboard

By James Flick, Vice President of Research and Marketing

After much time spent gathering and analyzing statistics in the Ohio, Kentucky, and Indiana regional multifamily market, we are proud to introduce our latest interactive research dashboard. It provides the most comprehensive data on the regional multi-family market.

Click on report to be taken to Interactive Dashboard. For best viewing results, please view on a desktop computer. 

 

Cincinnati and Dayton Third Quarter 2015 Retail MarketBeat

  
  
  
Cincinnati Dayton Retail Snapshot Q3 2015

By James Flick, Vice President of Research and Marketing

Economy

According to a September 23rd release from the Bureau of Economic Analysis, Cincinnati has the fastest growing economy among major cities in the Midwest. The region experienced a 2.5percent increase in gross domestic product in 2014, which outpaced the U.S. average of 2.3 percent. Within this total retail rose 0.4 percent. The Dayton economy has been slower to recover from the Great Recession and grew just 0.3 percent.

Dayton Office Market Sees Fifth Straight Quarter of Positive Absorption

  
  
  
Office Market Dayton Ohio Q3 2015

By James Flick, Vice President of Research and Marketing

Economy

According to a September 23rd release from the Bureau of Economic Analysis, the Dayton regional gross domestic product grew just 0.3% in 2014, well below the national average of 2.3%. One positive sign in terms of office real estate market was that professional and business services were the strongest driver of GDP growth in the Dayton market (0.37%).

Despite the minimal growth in GDP, the region’s job market continues to improve slightly. In 2010, unemployment rate reached as high as 12.9%, currently it sits at 4.5% or 60 basis points better than the national unemployment rate. In the last 12 months the region has added approximately 5,000 jobs. Unfortunately, total employment remains lower than pre-recession levels, a product of manufacturing losses, infrastructure issues, and an aging population. Dayton is not alone in its struggles. Over 40% of the major metros have not yet recovered all the jobs lost to the recession. Dayton’s location and associated attractiveness to logistics companies will hopefully fuel additional economic growth moving forward.

Cincinnati Office Market Interactive Research Dashboard

  
  
  
Office Market Interactive Dashboard resized 600

By James Flick, Vice President of Research and Marketing

Our latest Cincinnati Office Market report is available online. If you haven’t already, be sure to check it out. It, along with our other third quarter 2015 reports, can be found here.

For more detailed information about the Cincinnati Office Market, please check out our new Cincinnati Office Market Interactive Research Dashboard. In it, you will find the most comprehensive data on the local office market. 

Q3 2015 Dayton Industrial Market Report

  
  
  
Dayton Ind Snapshot   Q3 2015

By Jarrett Hicks, Senior Research Analyst 

Construction accounted for a great deal of the real estate activity in Greater Dayton in the third quarter of 2015. Nine different projects comprising 624,000 square feet were completed this quarter, including large facilities for Whirlpool, Meijer and F&P America Manufacturing in the Upper North submarket. 422,900 square feet of space is currently under construction across the region.

Vacancy has been steadily falling in Greater Dayton for the past ten quarters, and currently stands at 9.72%. In the third quarter, positive absorption was 859,296 square feet, due to a combination of construction deliveries and leasing activity. Absorption was positive in all three product types and in 5 of the 6 Dayton-area submarkets. Year-to-date, absorption is now over 1.1 million square feet.

Q3 2015 Cincinnati Industrial Market Report

  
  
  
Q3 2015 CIN Industrial Snapshot Report (1)

By Jarrett Hicks, Senior Research Analyst 

A key development in the third quarter was the 1.5 million square feet of new construction deliveries. Over 1.3 million square feet of the deliveries were speculative bulk projects in Richwood, KY and West Chester, OH. Over and above the delivered space, a sizeable 3.1 million square feet of industrial space is currently under construction across the region, the majority of which is speculative bulk product in Northern Kentucky. Dermody Properties’ 898,560 square foot LogistiCenter 275 in Erlanger, which has been pre-leased by Wayfair, broke ground in Q3. IDI Gazeley also recently broke ground on the 442,304 square foot Park South at Richwood I.

After a 15-year low of 4.42% in the second quarter of 2015, overall vacancy in Greater Cincinnati increased slightly to 4.57%. With the delivery of over 1 million square feet of new bulk warehouse space, quarter-to-quarter Class A bulk vacancy increased from 1.3% to 3.1%. Conversely, Class B bulk vacancy decreased by more than 100 basis points since last quarter, due to leases in the Central and Northern Kentucky submarkets. Vacancy was virtually unchanged in the other product types since the last quarter.

Cincinnati’s CBD Experiences Flurry of Development in Multiple Sectors

  
  
  
Cincinnati DowntownWEB

By James Flick, Vice President of Research and Marketing

This article first appeared on REBusiness Online. To read the original please click here. This article also was featured in the latest print edition of Heartland Real Estate Business.

Cincinnati’s central business district (CBD) is humming with activity, particularly in the office sector with nearly 13 million square feet of office space spread across 54 buildings. Class A office space has been in high demand in the past year as approximately 245,000 square feet was absorbed by area businesses, according to DTZ. During that time, the vacancy rate declined 380 basis points and now sits at 16.4 percent.

Second Quarter 2015 Cincinnati and Dayton Office Market Snapshots

  
  
  
DownloadCincy

By James Flick, Vice President of Research and Marketing

Cincinnati Office Market

Economy

The Cincinnati region continues to rack up accolades for its economic recovery and business friendliness. In May, the website NerdWallet, which provides online tools and research to educate consumers about financial decisions, ranked the “Best Places to Start a Business in Ohio.” Cincinnati boasted four of the top 10 locations with Blue Ash ranking #1, Sharonville #6, Kenwood #7, and Springdale #9. Additionally, Cincinnati ranked as the #3 “Metro Area for Economic Development in the US” by Site Selection Magazine (March 2015).

Q2 2015 Cincinnati and Dayton Industrial Market Reports

  
  
  
Cincinnati report blog graph

By Jarrett Hicks

Greater Cincinnati – Industrial Market Overview

In the second quarter of 2015, 430,400 square feet of new construction was delivered to the market, which accounted for one-third of quarterly positive net absorption.  2.91 million SF of industrial space is currently under construction across the region, including build-to-suit projects and four speculative bulk warehouses, three of which will be delivered later this Summer. 

Overall vacancy in Greater Cincinnati continues to decrease and currently stands at 4.37%.  Quarter-to-quarter vacancy rates dropped or remained flat in all submarkets and product categories, with the exception of Class B bulk warehouse space.  While some vacant Class B product returned to the market in the second quarter, Class A bulk warehouse vacancy is just 1.3% (503,000 square feet).

Doug Bolton elected New Board Chair of the Better Business Bureau

  
  
  
Doug Bolton BBB Chairman

By James Flick, Vice President of Research and Marketing

Our Managing Principal, Doug Bolton, was recently elected the Chairman of the Better Business Bureau (BBB) of Cincinnati. Below is the press release issued by the BBB announcing his election. The original press release can be found here: http://www.bbb.org/cincinnati/news-events/news-releases/2015/bbb-names-new-board-chair/

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