Market Trends
Get the Latest Market Trends Now!
Download Your FREE Report
INDUSTRIAL REPORT
Year-End Marketview Report & Survey 2024
The Toledo, Ohio area industrial space market remains the strongest property type segment based on Reichle Klein Group’s year-end 2024 survey. The headline number is 3,794,267 square feet of positive net absorption resulting from the delivery of 2,409,399 square feet of built-to-suit space and First Solar occupying the former Peloton facility in Troy, Township. In the 30 plus year history of our survey this is, by far, the record high for positive net absorption in a six-month period and eclipsed the next highest recorded amount by 1,242,842 square feet.
Hot Topics
- First Solar leads a record setting level of net absorption.
- Overall market vacancy falls to 2.25% as asking rents increase.
- New construction is down and spec construction at a standstill.
- New deal activity includes little or no automotive users.
APARTMENT REPORT
Year-End Marketview Report & Survey 2024
The Toledo, Ohio market rate apartment market performed well generally in 2024 though there are mixed signals in the results of the Reichle Klein Group year-end 2024 survey of the market. The highlights are that rents are up, but so is vacancy. Meanwhile, more new units are coming to market.
Hot Topics
- Rent growth continues, though at a slower rate.
- Construction pace increasing, more planned.
- Vacancy is up.
OFFICE REPORT
Year-End Marketview Report & Survey 2024
Unfortunately, there are not a lot of positive things to report about the Toledo, Ohio office market at end of 2024 other than that the bottom of the market may have passed or be near. The downward slide appears to have ceased. However, the market continues to be burdened by oversupply of space and low demand.
Hot Topics
- Vacancy is up slightly.
- There is leasing activity but none that will drive significantly higher occupancy.
- Asking rates are generally down.
- Funding tenant improvements continues to be a hurdle.
RETAIL REPORT
Year-End Marketview Report & Survey 2024
The closure of Rite Aid stores and those of several other distressed retailers is the dominant story of the second half of 2024 for the Toledo, Ohio retail space market. The resulting vacancies abruptly ended a five-year run of consistently positive market performance and came as a bit of a shock.
Hot Topics
- Rite Aid and other store closures hit the market hard.
- QSRs driving demand for in-line space.
- Activity with larger format retailers flattening.
- C Store/Gas Stations, Chicken and Coffee are hot.
to speak to a representative in Northwest Ohio.
