Vacancy/Net Absorption
Except for the Central Business District which saw a modest increase in vacancy and East Toledo/Oregon which at .52% vacant was flat, all submarkets registered declines in vacancy in the second half of 2021. Perrysburg/Northwood and the South/Southwest submarkets notched the largest drops in vacancy during the period. All the submarkets are under 5% vacant. Correspondingly, Perrysburg/Northwood at 357,104 square feet and the South/Southwest at 373,919 square feet recorded most of the overall market net absorption of 819,868 square feet.