4th Quarter 2025 Cleveland & Columbus Industrial Market Reports

4676 Erie Ave. SW. | Navarre

633,415 SF Industrial Building For Sale

100% Leased to Long-Term Tenants | NNN Leases

$43,100,000 | 7.25% Cap Rate

8695 Basil-Western Rd. NW. | Canal Winchester

Industrial Sale Leaseback

$73,800,000 ($97.73/SF)

755,160 SF

Seller: DHL Group | Buyer: CapitaLand Ascendas REIT

25501 Chagrin Blvd. | Beachwood

Medical Office/Hospital Sale

$62,000,000 ($786.42/SF)

78,838 SF

Seller: Montecito Medical | Buyer: University Hospitals

414 Encore Dr. | Lebanon

Industrial Sale

$61,050,000 ($113.37/SF)

538,525 SF

Seller: C5 Encore 3 LLC | Buyer: ET Cincinnati V LLC

6001 Rockside Rd. & 6125 Rockside Pl. | Independence

Multi-Hotel Sale

$28,000,000 ($81,159/Room)

345 Rooms

Seller: Jagi Cleveland-Indepencence, LLC | Buyer: Rockside 77 Hospitality LLC

8130 E. Broad St. | Columbus

Retail Sale

$8,925,000 ($159.09/SF)

56,102 SF

Seller: SWG-Reynoldsburg LLC | Buyer: Core Broad Street LLC

5916-5963 Walnut Circle | Toledo

Multi-Family Sale

$8,100,000 ($81,818/Unit)

99 Units

Seller: Walnut Woods Holdings LLC | Buyer: Walnut Woods Toledo LLC

1001 Parkview Blvd. | Columbus

Retirement Home Sale

$8,097,024 ($53.09/SF)

152,525 SF

Seller: Kensington Place, Inc. | Buyer: 1001 Parkview Road LLC

999 Chester Ave. | Cleveland

Parking Garage Sale

$7,000,000 ($4,630/Parking Space)

1,512 Parking Spaces

Seller: Palatine Capital Partners | Buyer: Chester & E. 9th Garage LLC

2619 Sunset Blvd. | Steubenville

Retail Sale

$6,060,000 ($1,463.77/SF)

4,140 SF

Seller: Speedway LLC | Buyer: Orion Pro Fund 7CS LLC (Orion Real Estate Group)

5950 Stickney Ave. | Toledo

Truck Terminal Sale

$4,600,000 ($287.50/SF)

16,000 SF

Seller: Old Dominion Freight Line, Inc. | Buyer: AAA Cooper Transportation

6500 Adelaide Ct. | Groveport

Industrial Lease

354,676 SF

Lease Rep Company: EQT Real Estate

2255 Parsons Ave. | Columbus

Industrial Lease

260,640 SF

Lease Rate: $7.05/NNN

Tenant: Western Partitions, Inc.

Lease Rep Company: KBC Advisors

11325 Reed Hartman Hwy. | Blue Ash

Flex Lease

28,205 SF

Lease Rep Company: JLL

2 Miranova Place | Columbus

Office Lease

21,353 SF

Lease Rep Company: Colliers

627-641 Eastgate Pkwy. | Gahanna

Flex Lease

16,500 SF

Lease Rep Company: LeVeck Commercial Real Estate

114 Venture Dr. | Pataskala

Industrial Lease

16,402 SF

Lease Rep Company: Turbo Group LLC

5700 Este Ave. | Cincinnati

Industrial Lease

14,909 SF

Lease Rep Company: SQFT Commercial

5445 N. High St. | Columbus

Retail Sublease

11,285 SF

Sublease Rep Company: Cushman & Wakefield

1555-1599 W. River Rd. N. | Elyria

Retail Lease

10,978 SF

Lease Rep Company: Global Real Estate Advisors, Inc.

2027 High St. | Columbus

Industrial Lease

10,500 SF

Lease Rate: $10.00/MG

Tenant: Baruary LLC

Lease Rep Company: NAI Ohio Equities LLC

1 Anna St. & 1925 Harvey Ave. | East Liverpool

Industrial Portfolio for Sale & Lease

417,050 SF RBA/Available

Sale & Lease Contact: Joe Luckino of Cedar One Realty

35343 Chester Rd. | Avon

Retail for Sale

$32,604,000 ($652.08/SF)

Cap Rate: 6.75%

50,000 SF RBA

Sale Contact: Putnam Daily of Fisher James Capital

1250 S. Walnut St. | Bucyrus

Industrial for Lease

225,681 SF Available

Lease Contact: Patrick Dedering of Phoenix Investors

7800 Cochran Rd. | Solon

Industrial for Lease

200,928 SF Available

Lease Contact: Aaron Schmidt of EQT Real Estate

3303 W. Tech Blvd. | Miamisburg

Industrial for Sale & Lease

$12,000,000 ($85.73/SF)

Lease Rate: $6.95/NNN

139,970 SF RBA/Available

Sale & Lease Contact: Roddy MacEachen of SQFT Commercial

2100 Advance Ave. | Columbus

Industrial for Lease

118,263 SF Available

Lease Contact: Anthony Pasquarella of Ironhorn Enterprises

995 4th St. | Perrysburg

Industrial for Sale

$9,000,000 ($84.27/SF)

106,800 SF RBA

Sale Contact: Robert Mack of Signature Associates

2052 Bohlke Blvd. | Fairfield

Industrial for Sale

$7,305,000 ($86.58/SF)

Cap Rate: 7.50%

84,375 SF RBA

Sale Contact: Jeffrey Johnston of CBRE

I-70 & Route 310 | Etna

Land for Sale

 $475,000 - $750,000/AC

23.12 AC | 11 Parcels

Sale Contact: J.R. Kern of Capitol Equities Realty

1155 Old State Route 74 | Batavia

Industrial for Sale

$6,000,000 ($99.18/SF)

60,497 SF RBA

Sale Contact: Tim Trautmann of J.A. Trautmann Realtors

8790 Governors Hill Dr. | Cincinnati

Office for Lease

Lease Rate: $9.50/NNN

59,616 SF Available

Lease Contact: Nick Barela of Republic Commercial Real Estate

26250 Euclid Ave. | Cleveland

Medical Office for Sale & Lease

$5,500,000 ($27.62/SF)

Cap Rate: 10.50%

199,152 SF RBA

Sale Contact: Matt Kovesdy of Matthews Real Estate Investment Services

Lease Rate: $10.00-$25.00 +ELEC

52,268 SF Available

Lease Contact: Rony Azad of MAN Holdings

4436 Muhlhauser Rd. | Hamilton

Industrial for Sublease

Lease Rate: $7.00/NNN

54,000 SF Available

Sublease Contact: Alan Piker of Cresa

6474 Lorain Blvd. | Elyria

Industrial for Lease

Lease Rate: $4.75/NNN

50,246 SF Available

Lease Contact: Kevin Kelly of Cushman & Wakefield | CRESCO Real Estate

33220-33250 Lakeland Blvd. | Eastlake

Industrial for Lease

Lease Rate: $4.75-$5.00/NNN

44,000 SF Available

Lease Contact: Paul Tretter of Gatto Group, Inc.

4111 Founders Blvd. | Batavia

Industrial for Sale

$4,500,000 ($105.14/SF)

42,801 SF RBA

Sale Contact: Jeffrey Kroeger of Colliers 

28900 Fountain Pkwy. | Solon

Industrial for Lease

Lease Rate: $7.50/NNN

32,907 SF Available

Lease Contact: George Pofok of Cushman & Wakefield | CRESCO Real Estate

9085 Southern St. | Orient

Medical Office for Lease

Lease Rate: $18.00-$19.00/NNN

32,760 SF Available

Lease Contact: Molly Leach of CBRE

245 N. Summit St. | Toledo

Multi-Family for Sale

$14,500,000 ($128,319/Unit)

113 Units

Sale Contact: Kathleen Nunez of Kiser Group

887 Morse Rd. | Columbus

Hotel for Sale

$4,500,000 ($33,582/Room)

134 Rooms

Sale Contact: Mitchell Glasson of Matthews Real Estate Investment Services

CLEVELAND

• Bedrock Riverfront development evolves 
• Court delay or not, Browns project isn’t far enough along yet to receive the $600M from state 
• Rafih Auto Group Development OK’d 
• Sherwin-Williams HQ boosts office market 
• Burke Lakefront Airport sparks clash over parks, profit and public trust: The Readers Write 
• What to watch in Cleveland’s commercial real estate sectors in 2026 
• Buyer emerges for prime TOD site 
• Investors’ make next play in Old Brooklyn 
• Lubrizol to invest millions to consolidate Brecksville operations into Wickliffe headquarters 
• Food distributor buys Cleveland-area warehouse for $8.4 million 
• Bedrock unveils plan to transform downtown Cleveland's Tower City Center into event destination 
• Bedrock buys more riverfront land 
• Battle over future of iconic Shaker Square apartments is tipping point for historic corridor 
• Ohio stakeholders fight to restore funding to manufacturing groups amid layoffs, office closures 
• State approves tax credits for 6 business projects, including 2 in Cuyahoga County

AKRON/CANTON

• Marcus & Millichap Arranges $3.5M Sale of Medical Office Building in Dover, Ohio 
• Pro Football Hall of Fame campus secures $135 million financing deal 

COLUMBUS

• Ohio could benefit from sudden demand for Intel semiconductor manufacturing 
• Downtown Commission: Estrella & Peninsula Buildings Both Back for Reviews 
• Columbus apartment building transfers to new owner amid financial questions 
• Steady leasing, slowing construction expected to fuel Columbus office market in new year

DAYTON

• Byline Bank’s CRE group closes out December with five transactions in Illinois, Ohio and Wisconsin 

TOLEDO

• Real estate transfers: 1/28

YOUNGSTOWN

• The Sanders Trust completes behavioral health hospital in Youngstown 

SOUTH CENTRAL OHIO

• Google confirmed as company behind 500,000 sq ft data center in Scioto County, Ohio

NEWMARK

• Manufacturing Momentum: Five Years In - Progress, Pressures and New Priorities 
• CRE Insight from $37B in Transactions with Chad Lavender, Newmark President of Capital Markets, North America (podcast) 

GENERAL

• Breaking down the data center opportunity for builders in 2026 
• Nonresidential construction spending loses momentum as factory builds falter 
• Demand jumps for these tax-deferred property programs that shelter gains 
• GameStop’s 2026 Store Closures: A Leasing Event, Not a CMBS Loan Event 
• Shopping Centers Set for Record 2026 Pricing 
• Warehouse Demand Surges with Prologis Record Leasing 
• Multifamily Lenders Tighten Cash Flow Focus 
• CRE Recovery Struggles Ahead 
• CMBS Loans Face $100B Maturity Wall in 2026 
• Scrub, rinse, reinvest: Why buyers are targeting the US car wash 
• CRE Fundraising on the Rise as Investors Return 
• Fannie Mae Multifamily Originator Trends: CRED iQ’s 2024–2025 Leaderboard Analysis 
• Survey: Data Center Developers Lean Toward Onsite Power 
• Construction Cost Outlook Suggests a Flat-to-Slow Scenario 
• Retail: The Challenge of Prime Urban Corridor Entry 
• Adaptive Reuse: Not Just for Office or Residential 
• Commercial and Multifamily Mortgage Debt Outstanding Increased in Q3 2025  
• CREFC: Financing Demand Expectations Hit Record High 
• US store openings are expected to see an uptick this year 
• C-PACE Financing Drives CRE Growth 
• Data Center Fundraising Surges in CRE Sector 
• 2025 Office Investment Update 
• Last year's hotel headaches persist, but 2026 shows slow growth expectations 
• Construction starts ended 2025 on an upswing 
• 5 construction legal trends to watch in 2026 
• Here's How The Biggest Players Moved The Commercial Real Estate Market In 2025 
• Where Opportunity Lies in 2026 
• 2025 Special Servicing Rates 
• CRE Transactions Surge Amid Data Center Growth 
• Power Where It’s Needed: Prologis Surpasses 1 Gigawatt of Solar and Battery Storage 
• Federal Reserve Holds Rates Steady, Miran and Waller Dissent  
• Fed Signals Extended Pause as Growth Firms, Labor Stabilizes 
• Is the U.S. multifamily sector in a holding pattern?