Cincinnati Office Market Report

CBD maintains exceptionally low vacancy. While strengthening net absorption since 2022 supported a period of declining vacancy in Cincinnati’s office market, that trend shifted in 2025 as leasing activity slowed. Looking ahead, the volume of square footage leased in late 2025 fell slightly short of levels from the same period in 2024, indicating demand was losing momentum heading into the new year. However, areas like the CBD — the nation’s third-least vacant — remain well positioned amid a slim development pipeline. Limited deliveries will also continue benefiting eastern Cincinnati, particularly along Interstate 275, where vacancy in late 2025 reached its lowest point since 2017, driven mainly by sub-10,000-square-foot leasing in Class B/C spaces. Additionally, low- to mid-tier properties in infill pockets south of the river along Interstate 71 have benefited from steady leasing activity in recent quarters, positioning these areas to sustain asking rent growth exceeding the metrowide pace in 2026.