MARKET TREND REPORTS

Columbus | Industrial
Q1 2022

The Columbus industrial market started the year on a positive note, recording 3,455,972 square feet of net absorption* this
quarter. The ongoing COVID-19 pandemic has caused already-high demand for industrial space to skyrocket, leading to booming activity from e-commerce and logistics tenants. High leasing activity has driven vacancy down to 1.55 percent and overall asking rates up to $4.61 NNN - both records in the Central Ohio market. Construction activity also remains strong, as there are 26 projects comprising of 13.7 million square feet currently underway. Throughout 2022, Columbus can anticipate consistent demand from tenants, developers and investors as the city solidifies itself as a true U.S. industrial hub.

*absorption calculated by occupancy date