Market View | Toledo – Vacancy/Net Absorption

Hot Topics

  • Vacancy is down 105 basis points since year-end 2020 to 10.45%
  • Leasing activity is up – 207,000 square feet was absorbed in 2021.
  • Several anchor-scale lease transactions with traditional retailers were completed.
  • Strip center development activity is up and Perrysburg is a hotspot for these developments.
Overall market vacancy

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Vacancy/Net Absorption

Overall market vacancy dropped 55 basis points from mid-year 2021 to 10.45% at end-year with vacancy falling among both in-line and anchor spaces while the market absorbed 12,576 square feet. At the submarket level, the improvement was driven by the strong performance of the western and southern submarkets, all of which have vacancy rates under 10%.

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