Skyline vacancy is forecasted to reach 24.0 percent by the end of 2015 as rightsizings continue to outweigh expansions.

1. Rightsizings outweigh expansions in Skyline
Cleveland
• Cleveland’s Skyline set experienced robust leasing activity over the last 18 months with many sizable
tenants making long-term real estate decisions. However, rightsizings outweighed expansions as
reducing footprints and increasing efficiencies remained a key focus for Cleveland office tenants. As a
result, the Skyline vacancy is forecasted to reach 24.0 percent by the end of 2015. The increase in
vacancy is largely attributed to occupancy reductions by three primary tenants - Key Bank,
BakerHostetler and Deloitte - which by the end of the year will have reduced their Skyline footprints by
nearly 300,000 square feet.
Source: JLL Research
Chart of the week: May 18, 2015
16.4%
13.7% 14.3% 14.2%
14.5%
15.5%
18.7%
19.7%
21.1%
20.4%
24.0%
10.0%
15.0%
20.0%
25.0%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 YE
Cleveland Skyline total vacancy