Cleveland office market experiencing high vacancy rates

CLEVELAND, Ohio -- The office real estate market in Greater Cleveland is showing signs of weakness based on first-quarter 2023 reports from real estate companies Newmark and Jones Lang LaSalle.

There has been a significant increase in office vacancies, according to the reports. Newmark noted that the first quarter of 2023 saw a 21.4% vacancy rate, which is a 3.9 percentage-point increase from the first quarter 2022 when the rate was 17.5% and a 5.3 percentage-point increase from the first quarter of 2020, before the pandemic began to affect the market, when the rate was 16.1%.

If you purchase a product or register for an account through one of the links on our site, we may receive compensation.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cuyahoga County Council Considering Legislation to Stop Doing Business With Companies That Commit Wage TheftCuyahoga County Council considering legislation to stop doing business with companies that commit wage theft
Source: ClevelandScene - 🏆 383. / 55 Read more »

Out of order: West Side Market vendors call out Cleveland after all 4 elevators breakD.W. Whitaker Meats said three of the four elevators at West Side Market have been broken for months, and now vendors have “no way” of getting their products up and down.
Source: cleveland19news - 🏆 70. / 68 Read more »