Columbus Commercial Market Report – Q1 2017
The Columbus Commercial Market saw negative absorption figures over both Industrial and Office during Q1 2017.
The Columbus Industrial Market recorded 339,807 Sq. Ft. of negative absorption, down from a positive net absorption of 1.8 Million Sq. Ft. during Q1 2016. Total vacancy rate as decreased from 6.2% to 5.2%. Under construction activity continued to be strong, at the close of Q1 2016 there were 3.8 Million Sq. Ft. under construction compared to over 2.4 Million Sq. Ft. at the close of Q1 2017.
The Columbus Office Market recorded 16,292 Sq. Ft. of negative net absorption which is down from the 212,00 Sq. Ft. recorded during Q1 2016. The total vacancy rate decreased from 11.5% compared to 11.2%. There are currently over 1 Million Sq. Ft. 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.
