Market Trends
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INDUSTRIAL REPORT
Mid-Year Marketview Report & Survey 2025
After a record-setting year-end in 2024, the Reichle Klein Group mid-year 2025 market survey found the Toledo, Ohio-area industrial property market moderated in the first half of 2025, showing signs of stabilization amid continued healthy user activity. Net absorption reversed slightly and went into negative territory for the first time in over six years, totaling negative 238,211 square feet, marking a pause following the extraordinary momentum that closed out 2024.
Hot Topics
- Net absorption turns negative following record-setting 2024.
- Vacancy increases modestly to 2.55%, remains historically low.
- Supply improves with greater space size variety and increased sale offerings.
- Lease inventory tightens while user activity stays healthy.
APARTMENT REPORT
Mid-Year Marketview Report & Survey 2025
The Reichle Klein Group mid-year 2025 survey of the Toledo, Ohio apartment market found that core market metrics improved over yearend 2024. The overall market vacancy rate dropped from 5.3% at year-end 2024 to 4.2% at June of 2025.
Hot Topics
- Market rebounded nicely in the first half of 2025
- Vacancy down, rents up
- Construction pace is down but higher levels proposed.
OFFICE REPORT
Mid-Year Marketview Report & Survey 2025
The mid-year 2025 Reichle Klein Group survey of the Toledo, Ohio office space market found some glimmers of positive news and helped solidify the sense that the bottom has been reached. Among the highlights in the core metrics, vacancies declined slightly from year-end 2024 as the market absorbed 30,090 square feet of space in the first half of 2025. Meanwhile, the average asking rental rate for the overall market was flat over the first six months of the year.
Hot Topics
- Some glimmers of positive news.
- Vacancy down slightly, rents flat.
- Downtown and Perrysburg were top performing submarkets.
- Innovation Post leads downtown leasing surge.
- Therma Tru departure hits Maumee.
RETAIL REPORT
Mid-Year Marketview Report & Survey 2025
The Reichle Klein Group mid-year 2025 survey of the Toledo, Ohio retail space market found that the slide in market fundamentals triggered by general distress among national retail chains, and specifically the sudden closure of all the 23 Rite Aid stores in the Toledo market in late 2023 and early 2024, has continued but at a slower rate.
Hot Topics
- Stores are still closing, but the rate of closures slowed down in the first half.
- Former Rite Aid Stores are starting to get leased or sold to users.
- Leasing activity is solid despite market headwinds.
- New construction activity is up from 2024.
to speak to a representative in Northwest Ohio.
