Market View | Toledo Industrial – New Construction
Hot Topics
- Vacancy continues to decline as demand grows.
- Market continues to favor owners and challenge those looking for space.
- The market absorbed a further 819,868 square feet of space in the second half of 2021.
- Demand continues to encourage new construction – primarily build-to-suit.
- NorthPoint Development to acquire and develop former North Towne Mall site – adding over 800K SF industrial.
New Construction
The amount of space under construction increased dramatically from midyear and the end of 2020 and stands at 3,341,400 square feet at year-end 2021. Nearly all space under construction is being built-to-suit and most is located in the Perrysburg/Northwood in the form of two large manufacturing facilities.
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