Columbus Commercial Market Report – Q2 2016
The Columbus Commercial Market continues to show strong numbers well into 2016. Rental rates and sale prices continue their upward trend as the inventory remains at record lows.
The Columbus Industrial market had a positive net absorption of just under 625,000 square feet; more than half of that (382,245 square feet) being in the Southeast submarket as giants like Amazon lease large amounts of bulk warehouse space. The vacancy rate rose slightly to 6.4% from 6.0% the previous quarter. There is over 4 million square feet of Industrial space under construction, with over 70% of the space pre-leased.
Similar to the Industrial market, the Office market showed positive net absorption, although with a less impressive 1,400 square feet overall. The Downtown south market showed the highest absorption with just over 71,000 square feet. The vacancy rate has shown significant improvement from a year ago with a reported 11.7%, down from 12.4%. You can read the full market reports below.
If you are interested in finding out more about the Columbus Commercial Market, or you are having trouble finding the perfect space, contact the Professionals at Rj BOLL Realty and discover why we’re Central Ohio’s Elite Commercial Real Estate Firm.