Cincinnati Office Figures Q1 2025

-Cincinnati office fundamentals have experienced continued improvement from Q4 2024. With the help of stabilized workplace strategies, more companies are comfortable making longer-term leasing decisions. Office using employment is also expected to grow more with stronger return-to-work momentum.
-The Cincinnati office market recorded 19,000 sq. ft. of positive net absorption to begin the year despite nearly 190,000 sq. ft. of negative net absorption recorded at Atrium One, due to Omnicare’s sublease expiring and Staffmark moving to The Banks.
-While tenants are rightsizing, they are also upgrading their spaces to draw employees to the office. High-quality buildings are outperforming the overall market. Modern buildings have consistently seen positive net absorption throughout the pandemic while older buildings accounted for the bulk of occupancy losses.
-The asking rates for the top-tier assets continue to remain well above that of the lower-tier assets. Class A asking rates are at $22.69 per sq. ft. followed by Class B at $16.38 per sq. ft. and Class C at $14.53 per sq. ft.