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Year-End Marketview Report & Survey 2023
After a four to five year run of unprecedented growth and high performance, the Toledo, Ohio region industrial space market took a bit of a breather in the second half of 2023 according to the Reichle Klein Group year-end survey of the market. We don’t see anything to be concerned about in the results. If nothing else, it stands to reason that the pace of the past several years could not go on forever.
- The hot market took a breather in the second half.
- Vacancy declined from year-end 2022.
- Rates are up sharply.
- Spec construction stalling due to higher interest rates and construction costs.