Market View | Toledo – Average Asking Rental Rate
Hot Topics
- Statistically solid performance in the second half of 2021.
- Looming significant new vacancy arriving in 2022 suggests future struggles for the market.
- Operating cost increases driving up occupancy costs.
- The for-sale market was very active throughout 2021.
Average Asking Rental Rate
The overall market average asking rental rate eked out a small $.03 per square foot increase in the second half of 2021. Most landlords are holding the line on their asking rates. Total occupancy costs are increasing, however, dramatically in some cases, as big increases in janitorial costs and utilities are passed through to tenants where leases allow it.
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