Markets · Toledo, OH MSA
Toledo Industrial Market Report
Bluebird CRE Research · As of 2026 Q1 · Data: CoStar Group, www.costar.com
A glass- and auto-manufacturing market at the I-75/I-80 junction with affordable, functional product.
Asking Rent / SF
2016–2026Now $6.09 · +2.0% YoY
Vacancy Rate
2016–2026Now 3.3%
Net Absorption (12 mo)
2016–2026Now 474,887 SF
Annual figures through 2026 Q1. Source: CoStar Group, www.costar.com.
Market overview
As of 2026 Q1, Toledo industrial vacancy stands at 3.3% with asking rents near $6.09/SF. The market absorbed 474,887 SF over the trailing year, and investment sale pricing implies roughly a 9.5% cap rate. Those are the figures that frame how we underwrite here.
Bluebird's read
A glass- and auto-manufacturing market at the I-75/I-80 junction with affordable, functional product. 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
- 600,903
- Total employment
- 304,843
- Industrial employment
- 59,693
- Median HH income
- $68,285
Key submarkets
- • I-80/90 Corridor
- • Airport / Wood County
- • North Toledo
- • Perrysburg
Representative tenants
- • Amazon
- • Jeep (Stellantis)
- • Owens-Illinois
- • First Solar
Explore other markets
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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