Toledo Talk

Arrowhead Park

The last month or so I have been looking for office space in the Maumee area, and it is alarming the vacancy in Arrowhead Park. And that doesn't even include Lathrop and The Andersons leaving. Either they over developed or have over priced office space.

Tons of space.

created by Molsonator on Jan 10, 2017 at 10:45:46 am     Comments: 4

source      versions


Comments ... #

Arrowhead was built on the decline of downtown Toledo. Now the reverse is happening.

posted by Johio83 on Jan 10, 2017 at 11:04:47 am     #   1 person liked this

^bingo

posted by ahmahler on Jan 10, 2017 at 11:17:12 am     #   2 people liked this

The commercial vacancy rate in Toledo is over 20%. Office space is probably higher than that. Toledo has an abundance of cheap office space, which makes it difficult for places like Arrowhead to survive. It is also a dated business park model.

posted by slowsol on Jan 10, 2017 at 12:43:43 pm     #   1 person liked this

True.

Also, over the last 10 years, there were a ton of business acquisitions that saw a lot of companies located in Arrowhead swallowed up by other companies that absorbed them into wherever they were located.

In addition, Arrowhead, in general, was far too slow to react to the market and kept lease rates too high. We were located in prime Arrowhead real estate from 1991 through 2007 and paid the big bucks to be there. Current lease rates are a fraction of what we paid.

posted by Foodie on Jan 10, 2017 at 12:46:18 pm     #   2 people liked this