Vacancy has declined steadily in the Cleveland metro area for years, and is near historic lows.
CLEVELAND—This region is not one of the truly national distribution hubs, such as Indianapolis or Chicago, that has seen an explosion of demand due to e-commerce. But the metro area just had one of its best quarters ever, and amidst a construction boom, vacancy has steadily declined and now stands near a historic low.
“We're primarily a manufacturing center,” Terry Coyne, a Cleveland-based vice chairman of NKF, tells GlobeSt.com. “We got hurt during the recession, much like Detroit.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
