After significant increases between 2020 and mid-2023, the overall office vacancy rate in Greater Cincinnati has levelled off over the past year. In Q2 2024, the vacancy rate was 25.3%, which was virtually unchanged during the past four quarters. On a YOY basis, overall vacancy increased by 70 basis points (bps), due mainly to a slight increase in Central Business District (CBD) vacancy. Of the 8.5 million square feet (msf) vacant across the market, 864,000 square feet (sf) was available for sublease. Due to a combination of sublease expirations and leasing, Q2 sublease vacancy reached its lowest level since 2021.
Q2 2024 MarketBeat Report
