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Cincinnati, has 2,062 commercial real estate spaces for lease, representing 20,075,796 sqft space.
815 buildings are available for sale.
In the past 30 days, Cincinnati, has had 163 spaces leased and 741 new spaces come on market.
Cincinnati Commercial and Office Space Overview
Cincinnati, the first major U.S. city founded after the American Revolution, has experienced several economic booms and busts since its inception in 1788. Positioned along the border of Kentucky via the Ohio River, Cincinnati is quickly becoming a popular destination for first-time business owners and those exploring new and exciting ventures.
Listed as the most cost-efficient city to own and operate a business, Cincinnati business owners enjoy low property taxes, below-average lease expenses, and a growing population of talented workers seeking an affordable urban lifestyle.
With a population just under 300,000, Cincinnati’s population has continued to trend younger thanks to a growth in industry and a cost of living 7.1% below the national average. The affordable nature of Cincinnati continues into its commercial real estate market. For those looking for office space for rent, the median rate sits at a comfortable $19 per square foot/year, demonstrating the city’s ripeness for explosive economic growth.
Economy of Cincinnati
Cincinnati is enjoying a major economic turnaround similar to other metropolitan areas its size. An affluent, youthful professional class has continued to drive economic change and development outside of traditional industries. Growth in education, financial, insurance, and technology sectors have spurred job creation as the city continues to grow at record pace.
Driving this growth are Cincinnati’s professional and business sectors, including legal, engineering, advertising, accounting, and architectural services in addition to modern technology industries propelling the regional economy to 29th in the United States. Cincinnati’s long history of manufacturing continues, with the city’s highest growth areas being among advanced energy, manufacturing, biohealth, and agriculture.
Trends of Cincinnati
Alongside many cities its size, Cincinnati has enjoyed a renaissance of modern art, culture, music, and events in recent years. As the only city in Ohio to be listed as one of the best places to live in the U.S., Cincinnati’s progressive efforts to modernize public transit, build infrastructure, and promote the arts as well as business and community endeavors demonstrates the city’s willingness to grow and prosper at rates much greater than larger, more glamorous cities in the nation.
Where to Rent Office Space in Cincinnati
Cincinnati’s business center is located downtown, with office space for financial, professional services, advertising and marketing, and retail nestled within the city’s core. As with many growing, modern cities, Cincinnati is beginning to see more affluent populations seeking neighborhood living experiences, with retail and entertainment establishments cropping up around the edges and the suburbs.
Business owners seeking high visibility and legitimacy should consider leasing or investing in commercial real estate downtown. However, manufacturing, logistics, and shipping companies would find great benefit in locating commercial real estate opportunities along the Ohio river or near the city’s outskirts, where leasing terms are considerably more flexible and cost-efficient. The city’s growth areas, however, show that companies working in the advanced energy, manufacturing, biohealth, and food processing are investing heavily in areas outside of the downtown core, which may affect availability and pricing for new enterprises and business ventures. While no major neighborhood redevelopment projects affecting neighborhoods or regions are currently planned, the downtown area of Cincinnati is rife with individual developments that will transform the city’s skyline and add further economic viability to this fast-growing market.