2023 Year-End Industrial Average Asking Lease Rate

Joe Mehling – Director of Marketing

Perhaps the most positive metric for the Toledo industrial space market, at least from the landlord perspective, is the average asking rental rate which is climbing sharply. The overall market average reached $5.45 per square foot at year-end 2023, up from $4.59 at the end of 2022. The average asking rate for Class A space reached $8.22 per square foot at the end of 2023.