Industrial market fundamentals continue to tighten in Cleveland amid robust demand growth. Concessions have all but dried up and landlords continue to push rents.

1. Industrial landlords firmly hold leverage as
fundamentals tighten further
Cleveland
• Market fundamentals continue to tighten in Cleveland amid robust demand growth. Through the first half
of 2015, net absorption totaled 842,375 square feet, decreasing total availability by 25 basis points to 9.5
percent. Demand gains have been consistent over the last four years, averaging 2.5 million square feet
of positive absorption in each year. With these gains has come a shift in leverage, which landlords now
firmly control. Concessions have all but dried up and landlords continue to push rents. Over the coming
year look for continued declines in availability and further escalation in asking rents.
Source: JLL Research
Chart of the week: August 3, 2015
8%
11%
14%
$3.30
$3.50
$3.70
2010 2011 2012 2013 2014 YTD 2015
Asking rents Total availability