CLEVELAND, Ohio -- The Greater Cleveland office real estate market had a tough year overall in 2022 and the industry’s fourth quarter shows that challenges may not be letting up anytime soon.by real-estate company Newmark, the vacancy rate regionwide grew to 19.8% for the final three months of 2022, up from 18.2% in the third quarter and from 18.9% from the fourth quarter of 2021.
Yet the average rental rate increased 22 cents from the third quarter to $18.82 per square foot, the report said. Something else that has been impacting the office vacancies are increases in the availablity of space for subleasing.
..another 'Feature' of the Covid Lockdowns and George Floyd Riots, not flaws. Cleveland is building zero manufacturing, just converting office buildings to living space. This is for: -Justin Bibb's Smart City -Agenda 21's Mega City -WEF's Great Reset ...not even debatable