Market View | Toledo Office – New Construction
Hot Topics
- Statistically solid performance in the second half of 2021.
- Looming significant new vacancy arriving in 2022 suggests future struggles for the market.
- Operating cost increases driving up occupancy costs.
- The for-sale market was very active throughout 2021.
Average Asking Rental Rate
Very little space is under construction. The total square footage of 33,800 square feet is comprised of two buildings, both in Perrysburg. One building is being built-to-suit. The other is a speculative project in Levis Commons, which will be delivered into very challenging market conditions in 2022.
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