2020 Q2 Cleveland Office Market Report

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The Cleveland office market recorded negative net absorption of 28,175 square feet during the second quarter of 2020, while the overall vacancy rate remained unchanged at 12.3%. This decrease in absorption from the previous quarter is likely to due to ongoing inventory adjustments as office to apartment conversions continue to happen in the Central Business District and the effects of the novel coronavirus begin to have some impact on the office market. Although this quarter saw a small negative change the year-to-date absorption remains positive totaling 115,001 square feet.

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2020 Q2 Cleveland Office Market Report

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