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Economy

Analysis Finds Akron Office Space is in High Demand

Home of Akron Bounce
TIM RUDELL
/
WKSU

A new analysis finds that more employers are seeking Akron for office space. 

The Cleveland-based research firm JLL found the city’s office vacancy rate is expected to decrease in 2019. A report shows that vacancy is sitting at just over 16 percent compared to the nationwide rate of  11 percent.

JLL’s Research Head Andrew Batson says the city is building momentum and new city projects like the Bowery Development are helping increase demand.

He also says millennials are a factor.

“Millennials very much want to be in an urban setting, a live-work-play environment. With the job market as tight as it is, employers are really focused, hyper-focused on attracting and retaining that millennial talent.”

The report also shows East End is in high demand for future development.