Office MarketView Report and Survey Midyear 2020
Office MarketView Report and Survey Midyear 2020
This issue of the Reichle Klein Group semi-annual survey and report on the state of the Toledo,
Ohio office space market is published in June 2020 as the economy begins to reopen from
the abrupt and comprehensive shutdowns imposed by governments around the world in response
to the COVID-19 pandemic. Because the shutdowns began in late March 2020 and the
market was essentially frozen in place through our survey window, our survey results capture a
snapshot of the Toledo office market reflecting the pre-COVID state. Events have simply unfolded
too quickly for our survey to yet provide clues as to the lasting impact of the crisis on the
office market in Toledo.
Hot Topics
- Net absorption has worst yearly performance in the past 10 years
- Any negative COVID impact is yet to formally register in survey results
- COVID-related vacancy looms as sublease offerings are being readied to be taken to market
- Many companies continue to keep workforces working remotely
- Toledo-area office market faces very challenging near-to-midterm future
