Cincinnati Retail Market Report
Traditional Retail Concepts Undergoing Transition As Modest Construction Lessens Leasing Pressure
Minimal supply pipeline limits competition for vacant space. Cincinnati’s retail inventory will grow by one of the smallest margins of any major U.S. market in 2021, and the second lowest for the metro in at least 15 years. All of the deliveries are under 50,000 square feet and largely pre-leased. This will direct retailers who are expanding to existing floor plans, partially offsetting the impact to fundamentals from other closures. Value retailers in particular have been adding space since the start of the pandemic, including Overstock Guys, Ross Dress for Less, and Dollar General. These businesses appeal to those enduring financial hardship, as has been the case amid recent high unemployment, especially within the service industry.