Market Monday: Cincinnati, OH
In today’s email:
Market Overview: Cincinnati’s industrial market remains one of the most resilient in the Midwest, supported by a diversified employer base and exceptional multimodal logistics access. With direct connectivity to I-75, I-71, I-74, and I-275, dual Class I rail service, and the rapidly expanding CVG air cargo hub, the region has become a central link in national distribution networks. Its location within a one-day drive of two-thirds of the U.S. population makes Cincinnati a highly strategic base for fulfillment, manufacturing, and 3PL operations.
The IOS Opportunity: Cincinnati’s IOS market is defined by tightening supply, increasing zoning constraints, and consistently rising tenant demand from transportation, equipment rental, contractor, and automotive users. Tri-County and Northern Kentucky are seeing some of the highest lease rates, with improved IOS yards reaching ~$4,000 per acre per month and basic gravel lots leasing quickly due to scarcity. Limited infill availability and growing occupier demand are supporting steady rent growth and pushing users toward outer corridors like I-74 and SR-32.
Market Fundamentals: Cincinnati’s central geography, cost-efficient operating environment, and stable logistics infrastructure make it one of the most attractive 3PL and distribution hubs in the country. Lower real estate and labor costs, combined with shorter freight miles and reduced weather-related risk, give occupiers meaningful operating advantages over coastal markets. These fundamentals continue to fuel both industrial absorption and IOS demand across the region.
IOS Landscape: Cincinnati’s IOS inventory ranges from basic gravel yards to fully improved truck-ready facilities with shop space, heavy-duty lots, utilities, and secured perimeter features. Core submarkets like Tri-County, Fairfield, and Northern Kentucky offer the most improved sites, while the I-74 and SR-32 corridors support larger, more flexible multi-acre yards. With zoning tightening and developable land limited, the region’s IOS landscape is becoming increasingly supply-constrained — supporting higher rents and stronger competition for functional sites.
Local Brokers & Market Experts: Scroll to the bottom for a list of active IOS listings and experts shaping the Cincinnati market — special thanks to SqFt Commercial and Colliers for participating!
MARKET OVERVIEW
Cincinnati
Cincinnati’s industrial market continues to show stable, durable momentum, supported by a diverse employer base and one of the strongest multimodal logistics infrastructures in the Midwest. The region benefits from immediate access to I-75, I-71, I-74, and I-275; dual Class I rail service; and CVG Airport, one of the nation’s fastest-growing cargo hubs and the location of Amazon Air’s primary U.S. air hub. These fundamentals position Cincinnati as a central node in the national supply chain, and a strategic location for companies looking to expand distribution, fulfillment, and logistics operations.1,2
One of the most compelling components of Cincinnati’s industrial value proposition is its suitability as a 3PL (third-party logistics) hub. As companies rely more on distributed logistics networks to improve speed and flexibility, Cincinnati’s location becomes a major advantage: the metro sits within a one-day drive of two-thirds of the U.S. population, giving immediate access to Midwest and East Coast consumer markets. This reach cuts freight miles, improves delivery times, and lowers transportation costs — critical advantages for e-commerce, manufacturing, and retail supply chains.3
Source: Taylor Logistics (3)
Beyond geographic reach, Cincinnati offers a cost-efficient and resilient operating environment. Industrial real estate and labor costs are materially lower than coastal markets, and shorter average haul distances reduce transportation expenses, freeing up 3PLs and their customers to invest more in inventory, technology, and growth. The region is also geographically insulated from coastal hurricanes, wildfires, and other major disruptions that can impact national supply chains.
For occupiers, Cincinnati’s 3PL network delivers scalability, flexibility, and speed. Local providers operate facilities capable of handling storage, cross-docking, transload, and value-add needs, allowing businesses to adjust quickly during peak seasons or shifting demand. This adaptability is reinforced by a mature logistics workforce experienced in compliance, freight movement, and regional transportation patterns.
Ultimately, the combination of faster transit times, lower freight costs, and proximity to major highways and air-cargo gateways translates into stronger customer service and more predictable delivery outcomes. As companies increasingly prioritize centrally located and operationally efficient logistics networks, Cincinnati’s blend of cost advantages, multimodal access, and supply-chain stability continues to make it a strategic and well-positioned industrial market.
IOS OVERVIEW
Cincinnati IOS Opportunity
Industrial Outdoor Storage has become one of the most constrained and strategically important components of Cincinnati’s industrial landscape. Cincinnati’s geography, zoning constraints, and limited infill availability have created a market defined by scarcity, and by consistently rising tenant demand from trucking, equipment rental groups, contractors, automotive operators, and fleet maintenance users. The region’s strong logistics infrastructure, centered around CVG Airport and the I-75 freight spine, continues to pull operators toward the metro, even as usable land and IOS-friendly zoning tighten.
As Jeffrey Kroeger of Colliers notes, demand remains robust across the region:
“The Greater Cincinnati IOS market continues to exhibit strong activity, driven in part by ongoing corporate expansions — especially equipment rental companies and building materials/contractor supply users. Limited availability of existing buildings is pushing more groups into build-to-suit considerations, and each new lease or sale comp seems to hit a new record.”
This dynamic has reshaped the IOS transaction landscape. Traditional investment sales remain limited, with most deals consisting of owner-user purchases or small-tenant lease-up of highly functional yards. Transactions are showing meaningful rate growth as users compete for a shrinking pool of viable sites. Improved yards with buildings, utilities, stabilized surfaces, and multiple drive-in doors regularly command the strongest pricing, particularly in core submarkets like Tri-County, Fairfield, and Northern Kentucky. Meanwhile, even basic gravel lots without structures are leasing quickly simply because the region offers so few options in infill locations.
Roddy MacEachen of SqFt Commercial highlights the market’s breadth and depth:
“We continue to see solid IOS demand throughout the entire Cincinnati market, mainly from local operators needing yard and maintenance space. Supply is virtually non-existent in infill and Tri-County/Northern Kentucky locations, and zoning has become the biggest hurdle in 2025.”
Across Cincinnati’s IOS leases from 2024–2025, several trends emerge. Tri-County rates are yielding some of the highest at around ~$4,000 per month per acre. ~70% of leases are with Transportation/Logistics and Equipment Rental businesses, further emphasizing the geographic significance of Cincy. The remaining share is comprised of construction and services businesses. West of the city sites are generally leasing for $2.5k-3K per month per acre. The average lease rate across the Cincy market is ~$3K per month per acre.
Since 2022, the median sale price per acre for sites 4 acres and below is ~$530K. In pockets like Tri-County prices per acre can be $700K+ depending on the site characteristics.
Site configurations vary widely across the metro. Cincinnati’s IOS landscape includes everything from simple gravel yards to fully improved truck-ready facilities with multiple drive-in doors, 14'–24' clear-height service bays, LED lighting, heavy-duty concrete truck courts, and perimeter fencing. Northern Kentucky and Tri-County tend to offer more improved, building-heavy opportunities, while corridors like I-74 and SR-32 provide larger multi-acre sites with more flexible zoning. This variation is one of the reasons Cincinnati’s IOS market appeals to such a wide range of users, but the lack of new supply remains the defining constraint.
Zoning challenges, in particular, have begun to materially affect the market. Kroeger explains:
“Zoning and topography remain major challenges, and we expect zoning to tighten further along the I-75 corridor — pushing occupiers west toward the I-74 corridor and east toward SR-32. For the first time, zoning constraints are materially impacting land values.”
This tightening regulatory environment mirrors what early-growth IOS markets like Denver, Nashville, and Charlotte experienced prior to rapid land and rent escalation. Cincinnati is now entering that same phase. With limited land, scarce inventory, and zoning restrictions increasing, the structural shortage will likely deepen over time — supporting ongoing rent growth and heightened investor interest despite limited transaction volume.
The bottom line:
Cincinnati’s IOS market is defined by airport-driven logistics, the strength of the I-75/I-275 freight corridor, and one of the most supply-constrained IOS landscapes in the Midwest. With limited developable sites, steady tenant demand, IOS has become core operational infrastructure for logistics, equipment rental, automotive, and contractor users across the region. As zoning tightens and land scarcity increases, Cincinnati stands out as a competitive, high-barrier IOS environment offering durable rent growth, stable occupancy, and strong long-term fundamentals for both users and investors.
FEATURED LISTINGS
Cincinnati
SqFT Commercial
635 Viox Dr | For Sale or Lease
This 13,620 SF industrial facility in Erlanger, KY sits on 5.61 acres and offers eight drive-in doors, clear-span warehouse space, and a fenced/gated yard with roughly three acres of parking and outdoor storage. Formerly used by Peterbilt and Penske for truck maintenance, the property includes 13,000 SF of warehouse, two floors of office space, and a 1,040 SF mezzanine, all positioned minutes from I-71/I-75 with strong frontage and monument signage. The site is available for lease at $25,000/month NNN and for sale at $2,995,000, with 240-volt 3-phase power, natural gas heat, LED lighting, and a metal/rubber membrane roof.
Reach out to Roddy MacEachen and Jared Wagoner for more info.
2601 South Verity Parkway | For Sale or Lease
This 55.78-acre industrial site in Middletown, OH offers extensive warehouse and outdoor storage capabilities with direct CSX rail access, on-site Trackmobile operations, and dedicated railcar storage. Positioned just 6.5 miles from Interstate 75, the property provides efficient connectivity to both Cincinnati and Dayton, and sits adjacent to Cleveland-Cliffs Inc., benefiting from a strong industrial corridor. The site supports large-scale outdoor, trailer, and logistics operations, making it well-suited for manufacturing, distribution, and bulk storage users seeking significant acreage with multimodal access.
Reach out to Roddy MacEachen and Jared Wagoner for more info.
5700 Este Ave | For Lease
This 14,909 SF, four-building industrial/service complex sits on approximately 3.5 fully fenced, gated, and graveled acres in Cincinnati, minutes from I-75. The property includes a 3,880 SF maintenance garage with four 12’x14’ drive-in doors, compressed air lines, a maintenance pit, and radiant heat; an 8,392 SF office building; a 1,500 SF garage; and a 1,137 SF house. Available January 1, 2026, the site supports IOS, fleet, service, and contractor operations, offered at $15,000/month NNN plus an estimated $2,500/month for taxes and insurance.
Reach out to Roddy MacEachen and Jared Wagoner for more info.
6720 Kilby Rd | For Lease
This 5,324 SF facility on 10.03 acres in Harrison offers roughly one acre of outdoor storage with compacted gravel and 35–40 trailer parking positions, all located minutes from I-275 and I-74 with no zoning restrictions in Whitewater Township. The 4,824 SF warehouse features four 9’x10’ dock doors with mechanical levelers, one 8’x8’ drive-in door, 16’–18’ clear heights, and a fully insulated pre-engineered metal building with metal halide lighting and a metal standing-seam roof. With ~500 SF of office, new exterior lighting being added, 20+ parking spaces, and a lease rate of $8,500/month gross, the property is well-suited for IOS, trucking, logistics, and service users needing flexible outdoor space and strong highway access.
Reach out to Roddy MacEachen and Jared Wagoner for more info.
Emerald Way | For Lease
This Class A new-construction opportunity in Middletown offers 12,000–30,000 SF of divisible space on 6.78 acres, with full utilities on site and I-2 General Industrial zoning. The pre-engineered, fully insulated buildings will feature 22'–24' clear heights, 6" reinforced concrete slabs, LED lighting, one dock and one drive-in door per bay (expandable), and heavy-duty asphalt/concrete yards suitable for truck traffic, plus 30 parking spaces per building. With construction planned to begin in Q1 2026, lease rates range from $8.95–$12.50/SF NNN plus estimated OpEx/CAM, with optional outdoor storage at $4,000/month NNN per acre and potential city incentives available.
Reach out to Roddy MacEachen and Jared Wagoner for more info.
Thunderbird Ln. | For Lease
This 10,160 SF new-construction industrial building on 2.43 acres in Fairfield offers 22’+ clear heights, a clear-span layout, and excellent highway access minutes from I-75 at Union Centre and I-275 at Route 4. Scheduled to begin construction in Q4 2025 with completion in Q3 2026, the facility includes three 14’x14’ drive-in doors, one 9’x10’ dock door with leveler and seal, 835 SF of expandable office space, and 120’+ concrete truck courts. With zoning in the City of Fairfield’s M-2 General Industrial district, the site also provides roughly one acre of potential outdoor storage or expansion area, 11–21 parking spaces, and is offered at $22.50/SF NNN or $19,000/month NNN.
Reach out to Roddy MacEachen and Jared Wagoner for more info.
9381 Seward Rd. | For Lease
This 12,000 SF Class A new-construction industrial building on 2 acres in Fairfield offers 24' clear heights, a fully insulated pre-engineered metal structure, and immediate access to I-75 at Union Centre Blvd. and I-275 at Seward and Route 4. Construction is set to begin in Q2 2025 with substantial completion in Q2 2026, featuring two 9'x10' dock doors with seals and levelers, two 16'x16' drive-in doors with motorized openers, heavy-duty asphalt/concrete truck courts, and 35 striped parking spaces. With outdoor storage and trailer parking areas, potential tax incentives from the City of Fairfield, and a lease rate of $20,000/month absolute NNN, the site is ideal for logistics, distribution, and IOS-oriented users seeking modern, high-clear space.
Reach out to Roddy MacEachen and Jared Wagoner for more info.
Colliers
7849 Harrison Ave | For Lease
This versatile site on Harrison Avenue offers up to 10 acres for lease with a mix of office/warehouse, service space, and outdoor storage options in a highly accessible Cincinnati location. The front building includes 4,500 SF of office/warehouse space at $5,000/month gross, featuring a two-story office layout and recently renovated warehouse area, with tenants responsible for landscaping, utilities, and prorated snow removal. Additional offerings include a 1,400 SF service building at $2,000/month gross with 0.5 acres of yard, plus roughly 10 acres of divisible outdoor storage available at $2,500/acre/month gross—ideal for contractors, fleet users, and IOS-oriented operators seeking flexible space and acreage.
Reach out to Jeffrey Kroeger and Chuck Ackerman for more info.
350 Aristocrat Dr | For Sale or Lease
This 16,530 SF industrial/flex building on 2.3 acres offers a unique blend of 3,570 SF of warehouse space and 13,130 SF of office, located near CVG Airport with excellent access to I-75, I-71, and I-275. Built in 2005, the facility features 14'–16' clear heights, four 10'x10' drive-in doors (one motorized), 400-amp power, gas-forced heat, fluorescent lighting, and 119 parking spaces, supported by six restrooms and a metal construction throughout. Offered at $11.95/SF NNN plus $1.69/SF for taxes and insurance—or for sale at $2,650,000—the property is available immediately and includes an on-site generator, making it well-suited for flex, R&D, service, and light industrial users seeking strong highway connectivity.
Reach out to Jeffrey Kroeger and Chuck Ackerman for more info.
2926 Atlas Dr | For Sublease
This 48,540 SF industrial property on 8.4 acres offers two pre-engineered metal buildings with a mix of warehouse, office, and ample outdoor storage, all with visibility to I-275. The 30,000 SF main building features 3,500 SF of office, five drive-in doors (including drive-thru capability), gas heat, and full utilities, while the 16,500 SF second building provides four drive-in doors and partial infrared heat. Available via sublease at $6.20/SF NNN through 9/30/2029, the site includes 60+ parking spaces and a mostly graveled yard suitable for IOS and fleet operations.
Reach out to Jeffrey Kroeger and Chuck Ackerman for more info.
8073 Furlong Dr | For Lease
This industrial outdoor storage site offers up to 17 acres for lease in Cleves, with 12 acres stabilized with compacted gravel and an additional 5 acres available with 90 days’ notice. Located in no-zoning Whitewater Township with immediate access to I-275/I-74, the property is ideal for truck and trailer storage, equipment yards, or contractor operations. Available November 1, 2025, pricing is $3,000 per acre per month.
Reach out to Jeffrey Kroeger and Chuck Ackerman for more info.
Gilmore Road | For Sale
This 11.58-acre Fairfield industrial site includes two buildings totaling 14,685 SF, both offering multiple drive-in doors, outdoor storage, and direct adjacency to CSX rail. The 7,880 SF building at 8555 N Gilmore features 18'–20' clear heights and five drive-ins, while the 6,805 SF building at 8525 N Gilmore offers seven drive-ins, bonus mezzanine space, and is leased through March 2027. Zoned M-2 with steel/metal construction and floor drains in both buildings, the property is offered for sale at $3,900,000.
Reach out to Jeffrey Kroeger and Chuck Ackerman for more info.
2015 Stapleton Ct. | For Sale or Lease
This 24,000 SF industrial building on 3.42 acres offers 21,600 SF of first-floor space, a 2,400 SF mezzanine office, seven drive-in doors, and 21'–23' clear heights, with 1.5 acres of outdoor storage available. Built in 1997 with a 6" reinforced floor and 400-amp/480V 3-phase power, the property includes a 45' column spacing layout, wet sprinkler system, and an additional 3,000 SF of mezzanine not counted in the total SF. Available Summer 2025, the site is offered for sale at $3,000,000 or for lease at $9.95/SF NNN.
Reach out to Jeffrey Kroeger and Chuck Ackerman for more info.
7967 Wesselman Rd | For Lease
This industrial outdoor storage site offers 8 acres immediately available within a secured, B-3 zoned 23-acre property featuring compacted gravel suitable for heavy truck and equipment use. The yard includes lighting, 24/7 access, and ample room for fleet parking, contractor laydown, or drop yard operations. Lease rate is $3,000 per acre per month NNN, with power available on-site.
Reach out to Jeffrey Kroeger and Chuck Ackerman for more info.
RECENT DEALS FEATURED
Cincy
LEASED: SqFt Commercial leased 3240 Production Dr. in Fairfield, OH, a 118,400 SF industrial facility on over 5 acres. The property features a 14,400 SF warehouse, 4,000 SF office, and 3+ acres of prime truck/trailer storage with heavy-duty concrete and a recycled asphalt yard.
ACQUISITIONS: Matthews Real Estate Investment Services has closed on a 4-acre Industrial Outdoor Storage property in Cincinnati, OH, leased to Ferguson Enterprises (NYSE: FERG). The site boasts over 25 years of strong operating history and a portfolio price per square foot (PPSF) of $155. With a 6% coverage ratio, the property attracted multiple competitive offers.
ACQUISITION: SqFt Commercial represented the seller in the direct sale of 1951 State Ave, Cincinnati — a 12,490 SF industrial property on nearly 8 acres. The site, formerly a recycling facility, includes five buildings, 3 acres of pavement, and proximity to I-75 and the CSX intermodal. Reach out to the SqFt Commercial team for more details: Roddy MacEachen, SIOR; Rod MacEachen; Jared Wagoner, SIOR; Amy Castaneda; Sarah Kern; Ryann Menne.
ACQUISITION: 6209 Simpson Avenue in Cincinnati, OH was recently sold! SqFt Commercial facilitated the transaction. The site includes a 20,655 SF facility on approximately 3 acres, featuring expansive yard space, 137 dedicated parking stalls, secure fencing, and flexible drive-in access — ideally configured for contractor, fleet, or storage-intensive operations. The site sold for $925,000. The SqFt Commercial team includes Rod MacEachen, Roddy MacEachen, Sarah Kern, and Jared Wagoner.
LOCAL EXPERTS
Local Brokers & Market Experts
Big thanks to all participants who helped shape this week’s Market Monday in Cincinnati. If you’re looking to buy, sell or lease in Cincy, the people below are the ones to call!
SqFt Commercial
Roddy MacEachen, SIOR
SqFt Commercial
(513) 739-3985 | [email protected]
Jared Wagoner, SIOR
SqFt Commercial
(812) 890-1768 | [email protected]
Colliers
Jeffrey Kroeger, SIOR, CCIM
Vice President Cincinnati Industrial Services Team
[email protected]
Direct: +1 513 562 2215 | Mobile: +1 513 235 4543
Chuck Ackerman, SIOR, CCIM
Brokerage Senior Vice President Cincinnati Industrial Services Team [email protected]
Direct: +1 513 562 2266 | Mobile: +1 513 708 8417
Bill Keefer, NAIOP SIOR
Brokerage Senior Vice President | Principal Cincinnati Industrial Services Team [email protected]
Direct: +1 513 562 2235 | Mobile: +1 513 703 5968
Maggie Leon-Guerrero
Industrial Client Services Manager
Cincinnati Industrial Services Team
[email protected]
SOURCES & REFERENCES
IOS Resources
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Disclaimer: The authors of IOS YardDogs are not finance or tax experts. We love big yards, small buildings. This email is for educational uses and is not financial / investment advice. Please conduct independent research and consult with industry professionals before making financial or investment decisions. Our content, which may contain affiliate links, is subjective and not to be used as the only basis for such decisions. We are not responsible for any losses from relying on this information.