Spec Office Buildings Planned for Cincy Suburbs

The Strietmann Building in Cincinnati’s historic Over-the-Rhine neighborhood is being renovated into new office space.

CINCINNATI—Market fundamentals for the Greater Cincinnati office market continued to be strong during the first quarter of 2016, according to CBRE’s new Office MarketView report. Tenant demand for class A product accounted for much of the 144,861 square feet of net absorption in the metro area. ,

Most impressive has been the progress at the region’s speculative developments such as the Kenwood Collection in suburban Kenwood, and Rookwood Exchange, which were both completed in late 2015. Tenants have already leased nearly 90% of the properties. In the first quarter, Quotient Technology Inc., formerly known as Coupons.com, leased 32,000 square feet at the Kenwood Collection, bringing that complex to a 91% occupancy rate. The lease up has even encouraged the developer to begin converting some of the retail space into offices.