The Cleveland 3rd Quarter 2025 Industrial Market Report compiled by CoStar tracks approximately 454 million square feet of industrial space in eight (8) counties (Ashtabula, Cuyahoga, Geauga, Lake, Lorain, Portage, Medina, and Summit). The 3rd Quarter vacancy rate is 4.3%, remaining the same as the 2nd Quarter 2025 vacancy rate and increasing 1.0% from the 3rd Quarter 2024 vacancy rate.
The Lake County market contains approximately 40 million square feet in 1,344 buildings, of which Mentor accounts for approximately 14 million square feet (or 35% of the total). The Lake County market vacancy rate is 2.6%, an increase of 0.4% from the 2nd Quarter 2025 and an increase of 0.4% from the 3rd Quarter 2024.
According to CoStar data, 503 thousand square feet, 3.6% of the industrial space in the City of Mentor is vacant. In the 2nd Quarter of 2025, the vacancy rate was 2.2%; one year ago, it was 1.7%. The largest available space is 8820 East Ave. 174,550 sq. ft., 7800 Tyler Blvd. 168,687 sq. ft., 8100 Tyler Blvd. 147,973 sq. ft.