Major 2012 lease Transactions: Cincinnati CBD Company
The CBD is home to seven Fortune 500 companies: • The Kroger Company (No. 23) • Procter & Gamble (No. 28) • Macy’s (No. 109) • Fifth Third Bancorp (No. 361) • Omnicare (No. 416) • Western & Southern Financial Group (No. 471) • American Financial Group (No. 485)
Location Sq. Ft. Type
KAO USA Inc. 312 Plum Street URS 525 Vine Street Trivantis Corp 311 Elm Building Cadre Computer PNC Center Calfee Halter & Griswold First Financial Center Acosta Sales & Marketing, Inc. 1009 Race Street Daymon Worldwide 125 E Court Street Fund Evaluation Group PNC Center DuCharme, McMillen and Associates 312 Elm Street USB Ascent Group US Bank Tower TOTAL
54,907 New 20,551 Relocation (L) 18,618 Renewal 10,823 Relocation (L) 8,982 New 8,400 New 7,938 New 7,783 Renewal 7,011 New 6,660 Renewal 151,673
Source: Xceligent, Inc. Please note: Listed are the top ten leases signed in 2012, according to square feet. Start dates of occupancy vary. (L) Local
2012 Cincinnati cBD Office
Class A Class B Class C TOTAL
Inventory of Rentable Sq. Ft. Vacancy Rate
8,815,068 6,271,749 2,960,469 18,047,286
Average Rental Rate
2012 Net Absorption
22.1% $21.69 (200,115) 17.9% $15.36 16,923 6.7% $13.30 37,793 18.1% $19.24 (145,399)
2012 Regional Office
Beauty care manufacturer KAO USA Inc. moved its headquarters from Spring Grove Avenue to the 312 Plum Building. KAO relocated to 55,000 square feet of space on the 10th, 11th, and a portion of the 9th floors of the building.
Inventory of Rentable Sq. Ft. Vacancy Rate
Blue Ash 4,598,290 CBD 18,047,286 CBD - Periphery 3,495,606 East 2,556,179 I-71 Corridor North (of I-275) 4,464,807 I-75 Corridor North (of I-275) 2,271,896 Kenwood/Montgomery 2,070,071 Midtown 3,317,554 Northern KY 7,366,882 Tri-County 4,824,584 West 752,742 TOTAL REGIONAL 53,765,897
Average Rental Rate
2012 Net Absorption
16.4% $17.80 18.1% $19.24 26.1% $17.14 19.5% $15.69 20.3% $18.97 8.2% $19.94 10.2% $21.51 18.7% $18.08 24.3% $18.45 30.2% $15.44 22.0% $17.29 20.0% $18.13
24,003 (145,399) 2,026 (56,245) 127,318 53,029 53,135 (157,159) (405,595) (163,411) 16,445 (651,835)
* Unless otherwise noted, all office statistics in this section were provided by Colliers International. 2012 data is from Q4 Cincinnati Office Report. **2010-2011 amounts differ from previously reported data due to historical adjustments.
downtown cincinnati INC.
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