Markets · Cincinnati, OH–KY–IN MSA
Cincinnati Industrial Market Report
Bluebird CRE Research · As of 2026 Q1 · Data: CoStar Group, www.costar.com
Home to Amazon Air's global hub at CVG and a dense logistics base along the I-75 corridor.
Asking Rent / SF
2016–2026Now $7.53 · +2.0% YoY
Vacancy Rate
2016–2026Now 4.8%
Net Absorption (12 mo)
2016–2026Now 5.1M SF
Annual figures through 2026 Q1. Source: CoStar Group, www.costar.com.
5161 Wolfpen-Pleasant Hill Road · Milford, OH · 20,925 SF
Market overview
As of 2026 Q1, Cincinnati industrial vacancy stands at 4.8% with asking rents near $7.53/SF. The market absorbed 5.1M SF over the trailing year, and investment sale pricing implies roughly a 8.5% cap rate. Those are the figures that frame how we underwrite here.
Bluebird's read
Home to Amazon Air's global hub at CVG and a dense logistics base along the I-75 corridor. Bluebird targets functional small-bay and IOS product here at a basis below replacement cost, with leasing and mark-to-market as the value-add levers.
Economy
- Population
- 2.3M
- Total employment
- 1.2M
- Industrial employment
- 180,650
- Median HH income
- $84,196
Key submarkets
- • Northern Kentucky / CVG
- • I-75 Corridor
- • Eastgate
- • West Chester
Representative tenants
- • Amazon Air (CVG)
- • DHL
- • Kroger
- • Procter & Gamble
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Market data sourced from CoStar Group, www.costar.com (as of 2026 Q1); figures are point-in-time estimates and forecasts are not guarantees. Provided for informational purposes only and not an offer to sell securities. Past performance does not guarantee future results.
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