Columbus Commercial Market Report – 2Q 2017
The Columbus Commercial Market recorded negative absorption figures in both Industrial and Office during 2Q 2017.
The Columbus Industrial Market recorded 640,527 Sq. Ft. of negative absorption during 2Q 2017, which was down from the positive net absorption of 612,835 Sq. Ft. that was recorded during 2Q 2016. The total vacancy rate has decreased from 6.4% in 2Q 2016 to 5.4% at the close of 2Q 2017. Under construction activity continued to be strong in the Columbus Industrial Market. At the close of 2Q 2017 there was over 4.3M Sq. Ft. under construction.
The Columbus Office Market recorded 5,727 Sq. Ft. of positive net absorption during 2Q 2017, which was down from the positive 12,621 Sq. Ft. recorded during 2Q 2016. The total vacancy rate has increased to 12% at the close of 2Q 2017 compared to the 11.5% at the close of 2Q 2016. The Columbus Market has over 1M Sq. Ft. currently under construction.
If you are interested in finding out more about the Columbus Commercial Market, or need to find the perfect space for your company, contact the professionals at Rj BOLL Realty and discover why we’re Central Ohio’s Elite Commercial Real Estate Firm.
Columbus Market 2Q17 (Industrial)