2024 Mid-Year Industrial Market Vacancy/Net Absorption

Overall market vacancy ticked up to 3.71% at mid-year 2024 from 3.47% at year-end 2023. Vacancy among non-Class A buildings stood at 2.58% in our June survey while Class A vacancy is up to 6.54% – unchanged from year-end 2023. Overall, the market absorbed 195,097 square feet of space on the strength of the performance of the Perrysburg/Northwood submarket which offset negative net absorption in all the other submarkets except the CBD which absorbed 11,760 square feet.