Columbus industrial real estate market reports
Q3 2021
The Columbus industrial market has benefitted from strong market fundamentals, demonstrated throughout the first three quarters of 2021, with record-breaking leasing activity, low vacancy, strong absorption, and improved economic conditions. These fundamentals are driving elevated levels of construction, rental rate growth, and a surge in investment volume.
Economic conditions
Local employment in transportation, warehousing and utilities rose by 6% over the past year, nearly doubling the growth in the professional and business services sector.
Industrial leasing activity
Leasing activity has exploded throughout the pandemic, up an astounding 119% when compared to the 20-year historical volume.
Industrial demand
Year-to-date net absorption has reached a record-breaking total of 9.6msf, confirming the current e-commerce demand trend within the Columbus market.
Pricing trends
Average asking rents increased 12.6% since the beginning of the pandemic, underscoring how industrial demand has outpaced supply in Columbus.
Capital markets
Columbus industrial investment activity surges to $2.16 billion since 2019 as investors are attracted to the sector fundamentals largely benefited from the COVID environment.
Construction pipeline
Net absorption is keeping pace with new deliveries as construction ramps up, where 13.2 million square feet of newly-built space is currently underway.
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