Cleveland Office Space

BuildingSearch.com has scores of office space listings in the city of Cleveland. We provide an array of different Cleveland office space listings, so that it is easier to find the exact building to suit your needs better. Choose from a variety of different office spaces such as office/R&D, medical/bio tech, mixed use or office/retail. 

Cleveland was founded in 1796 next to the Cuyahoga River and on the Southern shore of Lake Erie. Because of its proximity to rivers and railways, Cleveland became a major manufacturing city. Nowadays, because manufacturing has become obsolete as a primary source to the economy, Cleveland has branched out to include a service industry including the financial services, insurance, and healthcare sectors, all of which call Cleveland office space home. Cleveland is now estimated to be the 40th largest city in America with a population of 478,403 as of the 2000 census. In 2005, The Economist ranked the cities of Cleveland and Pittsburgh the most “livable” cities in America, making relocating your company with Cleveland office space a great idea. Cleveland was also named the best city to conduct office meetings, another reason to relocate, expand or open your business using Cleveland office space. Cleveland is also considered the “Rock’n’Roll” capital of the world because it is the home of the Rock and Roll Hall of Fame. 

The city is home to a diverse economy that doesn’t rely on any form of manufacturing or service industry singularly. Some of the companies that choose Cleveland office space for their corporate headquarters are Eaton Corporation, American Greetings, Sherwin-Williams Company, Progressive Auto Insurance, and NASA. Cleveland is also a central hub for research into biotechnology and fuel cells, increasing the need for office/R&D space in Cleveland. However, the population along with many company headquarters has been steadily decreasing over the years, which has influenced the economy negatively. 

For the second quarter of 2008, the Cleveland office space market has done exceedingly well despite the hesitation of the economy. Vacancy levels have dropped, net absorption has gone up, and rental rates have also dropped. In the downtown Cleveland area, office space vacancy rate was at an all time low of 13.42% and the net absorption of office space was a positive 240,300, well over last quarters positive 94,900 square feet of absorption. The rates for the second quarter have stayed relatively still at $16.54 per square foot. The third quarter forecast predicts the same trends in vacancy, net absorption, and rental rates.