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It’s not a good situation when the two major commercial segments of the market — office and industrial — are both seeing sluggish times in terms of leasing activity. In fact, both sectors in Greater Cleveland saw tenants give back more space to the market than they absorbed due to some large, high-profile departures.

Newmark, global a real estate brokerage and analytics firm, noted in its latest second quarter 2025 market reports released this week that national trends are affecting Greater Cleveland and not in a good way. Meanwhile the continued demand for more housing and data centers may be the salvation for both through conversions.

“As calls for employees to return to the offic

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