Local experts say tenants won't be hard to find for growing office vacancies
October 8, 2014
About 1 million square feet of prime office space in the suburbs and Downtown will be vacated in the next few years by Columbia Gas and Nationwide Insurance, as those companies move almost 4,000 employees to new offices in the Arena District and Grandview Heights, respectively.
In the past, this much empty space would create concern that vacancy rates would rise and leasing rates would fall in a market that, before the recession, enjoyed a building boom.
But the office market has stabilized and begun to grow, and local experts say that it shouldn’t be hard to find tenants.