Cincinnati Office Space

Cincinnati Office Spaces Price / Vacancy Rates:

With a cost of living over 20% lower than the national average, Cincinnati offers an attractive environment for residents to raise a family and start a career. And with a vacancy rate of 9% for Class A and office space in the Central Business District at an average cost of $15.24 per square foot, it is no wonder that over 350 Fortune 500 companies have a presence in Cincinnati, and that 10, including Procter & Gamble, Kroger, and Cinergy, have chosen the city for their corporate headquarters. View local Cincinnati office space for lease. Other popular areas near Cincinnati that we have offices in include: Central, Blue Ash, Tri-county, Fairfield, Goshen, Eastside, Harrison, Kenwood, Milford, and Westchester.

Cincinnati Population, Economy, Developments:

Cincinnati, nicknamed The Queen City, has a population of approximately 333,300, a rise of about 0.6% since 2000 after seeing population decline during the 1990’s. The median age is 32.1, compared to 36.2 for the state of Ohio. An unemployment rate of 8.8% is below the state average of 10.4%, with economic indicators showing a net loss in jobs of around 5%. These factors have definitely contributed to the Cincinnati office space prices - which have been on the decline. Two major commercial construction projects are currently underway in the downtown Cincinnati area (that will end up being huge building properties once finished).. The Great American Tower at Queen City Square, scheduled to open in 2011, this 41-story building will add 800,000 square feet of office space to the Central Business District. Designed to be energy efficient, the skyscraper also boasts floor to ceiling windows and unobstructed views in all four directions. The Banks of Cincinnati is a mixed use project along the Ohio River. It will include approximately one million square feet of office space, nearly 2,000 apartments and homes, and over 250,000 square feet of retail space, along with hotels and a park. Portions of the development will begin to open in 2010. Other hot markets in Ohio include Cleveland and Columbus. Of course another viable option is to just rent an executive suite that is usually cheaper and comes with many amenities like admin support, internet serviced, furnished options, and monthly lease terms, but for a growing company you can't overlook just renting a Cincinnati office space.

Downtown Cincinnati Real Estate News:

Convention facilities are provided not only by the numerous hotels in the area but by the Dr. Albert B. Sabin Cincinnati Convention Center, located downtown. With over 750,000 square feet of space, the center offers exhibition space, ballrooms, a kitchen, and all the technological amenities expected by planners. It is also connected to the Skywalk, a 20-block elevated passage that connects hotels, stores, and restaurants that enables consumers to easily traverse the area without facing the elements. Cincinnati offers a wide variety of attractions. Over-the-Rhine, believed to be the largest urban historical neighborhood in America, was added to the rolls of the National Register in 1983. Featuring over 900 buildings of mostly Victorian architecture, it is also popular as an arts district. The city also is home to the second oldest zoo in the country, the 733 acre Spring Grove Cemetery and Arboretum (which features more than 1,000 varieties of trees), and the Irwin M. Krohn Conservatory, which offers more than 3,000 plant species. Cincinnati office spaces are still a major focal point of the economy, as is the case in most cities. To find more office spaces available around the country check out our listings.

Cincinnati Culture, Crime Rates, Social Status:

Professional sports teams are well represented, with the Cincinnati Bengals football team playing at Paul Brown Stadium and baseball’s Cincinnati Reds making their home at the Great American Ball Park. The National Hockey League’s Cincinnati Mighty Ducks play at the Cincinnati Gardens. The crime statistics for Cincinnati show an index of 7, on a scale from 1 (low) to 10 (high). The national average is around 3.2. So, while the rate is high, it is skewed by certain high-crime neighborhoods, and, overall, the rate has been showing a slight but steady decline over the past several years. Find more history and news about Cincinnati here. All of these local factors help to keep the Cincinnati office space sector afloat.