Columbus industrial real estate market reports
Q4 2021
The Columbus industrial market has benefited from strong market fundaments observed throughout 2021 with record breaking leasing and investment activity, historically low vacancy and absorption levels surging to an all time high. Developers continue to push forward on new developments to satisfy the demand from industrial users, bring the total square footage under construction to 15.7msf.
Economic conditions
Columbus’s unemployment rate has reached its lowest level since December 2019, recording at 3.5% as of October 2021.
Recovery rate
60% of total Columbus population is fully vaccinated, slightly trailing the U.S. averages, an important metric as different variant stands emerge.
Industrial demand
Record breaking leasing activity was observed throughout the pandemic up 97.6% in 2020-2021 when compared to the prior 20-year average.
Industrial supply
The overall vacancy rate for the Columbus industrial market reached an all time low, dipping below 4%, recorded at 3.6% at the end of 2021.
Pricing
Average asking rents have increased by approximately $0.75psf since the start of the pandemic, one indicator of a landlord-favorable market.
Capital markets
Industrial investment activity surged to $2.8B since 2020 as investors deploy capital at a rapid pace.
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