Columbus industrial real estate market reports
Columbus remains full of leasing activity and increased construction with the current pipeline over 18 msf. Even with rising interest rates and construction delays, the market is experiencing historically low vacancy and historically high pricing.
Even with rising interest rates and continued supply chain delays, new projects continue to break ground in Q2.
Q2 marks the seventh straight quarter of positive absorption across the market even as new product has been added.
Direct Asking Rent
Average asking rents have now eclipsed $5 per square foot, largely due to record-low vacancy levels.
Total available space remains at the same level as Q1. Much of the available space on the market is early-stage construction which using sees leasing activity later on in construction when a delivery date is more predictable.
Vacancy continues to remain at levels not seen in the past twenty years. The dramatic drop off since the since the pandemic continues to dive.
Average pricing per-square-foot continues to climb in Q2 on industrial building sales.
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