Columbus office market report

Q3 2021

The Columbus office market has seen a decrease in activity as larger bellwether companies have pushed back the return to office date due to the Variant stand concerns.  The vacancy is near the record high set back in 2003 as companies are restructuring how they work and reevaluating their real estate needs.

4.7%

Economic conditions

Columbus’ regional economy has rebounded sharply from pandemic lows with preliminary August unemployment of 4.7 percent.

-1.7%

Recovery rate

Office using job losses have totaled 1.7 percent since the start of the pandemic, with the Information and State Government sectors seeing the largest decline.

8 months

Office demand

Co-Working companies have exploded over the last 8 months specifically within the suburbs as employers are seeing the benefit of flexibility and employees are more comfortable with shorter commute times and decreased covid concerns/restrictions.

1.1 MSF

Office supply

There is currently 1.1 msf under construction within seven properties in the Columbus market.

1.3 MSF

Sublease space

The share of sublease- to-total available space of 10.4 percent has reached levels that have not been reported before in the Columbus market.

$358 M

Capital markets

Office investment activity has remained generally muted however, recently surpassed 2020 Investment volume, year-to-date sales activity has totaled $358 M.

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Get in-depth office market reports and insights from commercial real estate experts in the Central Ohio region. Avison Young advisors look at Columbus, OH commercial real estate activities and the latest Columbus statistics to provide you expert market research on office properties in Columbus, OH.

Explore different topics like the latest office market pricing trends and analysis of the current office real estate market conditions in Columbus, OH. Gain a better understanding of Central Ohio's office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Columbus, OH's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Columbus, OH.

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