2023 Midyear Industrial Vacancy/Net Absorption

Joe Mehling – Director of Marketing

Overall market vacancy stood at 3.58% at mid-year 2023. No submarket is over 5% vacant save the Class A segment which stood at 7.48% at June 2023 owing to the recently delivered spec space. 

A total of 460,450 square feet of space was absorbed in the first half of 2023, most of that occurring in the Perrysburg/Northwood and South/Southwest submarkets. 258,000 square feet of Class A space was absorbed in the period.