2017 Q2 Office Cleveland Report Colliers
Date Published: 07/14/2017
Cleveland’s economy continues to grow and diversify, with an emphasis on the professional services and other white-collar sectors. Job growth is projected to benefit the office market and as evidenced by the recent acceleration in leasing activity, this trend is already under way. Employment in the office using sectors has increased steadily since bottoming in 2010 and is currently just 1.9 percent below its pre-recession peak. Along with the growth in office employment, the market’s overall vacancy rate has plummeted to its lowest level in 10 years.