Areas and the region surrounding Greater Cincinnati are in a continuing growth movement beyond the I-275 outerbelt.
Northern Kentucky is a prime and hot market. The Greater Cincinnati/Northern Kentucky Airport makes that part of the region appealing. The area is blessed with a centralized transportation region that serves much of the Midwest.
As the Greater Cincinnati-Northern Kentucky International Airport continues to deliver good news to the region, we will most certainly see demand for the land around it as well as the business opportunities that come with this growth. This means that while we witness the likes of Amazon, we also witness those organizations who depend upon and service Amazon.
Butler and Warren Counties in Ohio continue as a high-growth area for workers, businesses and residents. This 45-mile stretch along I-75 remains in a rapid growth and development pattern, connecting the Northern Cincinnati region toward Greater Dayton.
Retail continues to be a question mark in the industry as consumer behavior and options have adjusted to adapt to the ease of home delivery. The retail segment is in transition and will not completely go away, but will differ from what we have seen.
Amazon has impacted the retail industry. Trends indicate that retail will still “live,” but more for the unique experience. It is incumbent upon the retail industry to creatively generate the experience, and for land developers to offer parcels that add richness. It really seems to be about lifestyle, plus ease and experience for the end-user, the consumer.
The millennials who will be quickly the prime buyers demand not only more for their money, but great value for their time. Trend watchers describe this generation as smaller spenders and more discerning. It is about their lives.
Northern Kentucky industrial areas will continue to be attractive, with tax cuts available and what we all know to be the “Amazon effect.” We also are witness to what millennials and generations following them really want and expect.
I have worked in commercial real estate for 13 years. During that time, we have witnessed trends, strong economic indicators and the serious 2008 downturn. The state of commercial real estate is always in flux, but has some strong components as we enter second quarter.
This article is featured on the Cincinnati Business Courier.
