The fourth quarter of 2021 marked the eighth consecutive quarter of increased overall vacancy in the Greater Cincinnati office market. Vacancy reached 21.6% in Q4 2021, a level last seen in the market in early 2018. On a year-over-year (YOY) basis, vacancy increased by more than 250 basis points (bps). Vacant square footage available for sublease nearly doubled on a YOY basis from 450,000 square feet (sf) to 818,000 sf. The largest of these subleases became available in Q4 2021; 130,000 sf of Class A space at in GE Operations Center overlooking the Ohio River in the Central Business District (CBD). An additional 75,000 sf worth of suburban subleases were added to the market in Q4 2021 as well.
Q4 2021 MarketBeat Report
