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The city's office vacancy rate has hit a five-year high as tenants wonder about their space needs and sublease space increasingly competes in the market at a discount, real estate firms report. ....
Developer: Akron s Bowery District has not signed a commercial lease yet thankfully Josh Troche for Crain s Akron s downtown Bowery District is almost complete and has a brand new Main Street running outside its main entrance. Downtown Akron s Bowery District has had little trouble leasing its residential space, but so far it has not signed a single lease with any restaurants, bars or retailers for its 40,000 square feet of commercial space. And that s just fine with Don Taylor, CEO of the Welty Building Co. and the man leading the $42 million development. Taylor said Main Street s big road construction project prevented potential tenants from signing leases before COVID-19 struck. The road work went on in front of the Bowery for two years, halting much of downtown s traffic, before wrapping up there in October. ....