Labor Market : Local unemployment finishes 2017 at 4.7%. It is a job-searcher’s market, as firms find locating skilled talent a challenge.
Office Sector : Large blocks of space in prime corridors hit the market as developers near completion dates on new office product.
Industrial + Logistics Sector : E-commerce’s effect on industrial real estate is being witnessed firsthand in Cleveland, with over 2.3 million sq. ft. of warehouse/distribution space under construction.
Retail Sector : Retailers are investing less in spatial footprints, and more in omnichannel retailing, as consumer shopping preferences are now driving the retail market.
Multi-Family Sector : New urban development contines to be proposed, as people look for live-work-play districts they can call home.
Capital Markets Sector : Industrial, multi-family, office and prime retail centers continue to be key targets of investors looking to expand within Northeast Ohio.