Regional Summaries

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Columbus, OH

The 140,835-unit metro Columbus apartment market finished the first quarter of 2017 with a 3.9% vacancy rate, up 10 basis points from the prior quarter and down 50 basis points year-over-year. Monthly data from Reis show a 4.0% rate for April 2017. Reis reports first quarter average asking and effective rents of $863 and $824 per month, up 0.5% and 0.4% over the quarter, and up 2.7% and 3.3%, respectively, over 12 months. VIEW APARTMENT LISTINGS >
The 112.5-million-square-foot Columbus warehouse/distribution market finished April 2017 with a vacancy rate of 12.2%, down 80 basis points year-to-date. The rate had been 13.0% in the first quarter of 2016. Asking and effective rents were up 0.6% and 0.9% in the first quarter to $3.62 psf and $3.30 psf, respectively, and were up 1.7% and 2.2% over 12 months. The 13.3-million-square-foot Flex/R&D market experienced stable occupancy as 2017 began, finishing April with a 17.5% vacancy rate. The rate spent all of 2016 above the 18.0% mark, so the current level is an improvement, but vacancy is indeed high here. First quarter average asking and effective rents, at $5.41 psf and $4.70 psf, were each up 0.6% for the quarter, and up 1.9% and 2.2%, respectively, year-over-year. VIEW INDUSTRIAL LISTINGS >
The latest data for the 32.3-million-square-foot Columbus general purpose, multi-tenant office market show a 17.8% vacancy rate in April of 2017. The rate was just below the 18.0% mark for most of 2016, although it did fall to 17.3% in the third quarter. Reis reports first quarter average asking and effective rents of $18.94 psf and $15.10 psf, up 0.2% and 0.1% for the quarter, and up 1.4% and 1.5%, respectively, over the year. Effective rents rose 0.1% in April. VIEW OFFICE LISTINGS >
The 27.4-million-square-foot Columbus community-neighborhood shopping center market posted a 12.7% vacancy rate in April 2017, unchanged from the first quarter. Reis reports average asking and effective community-neighborhood shopping center rents of $13.25 psf and $11.19 psf, up 0.2% each for the quarter, and up 0.6% and 0.7% over 12 months, respectively. Asking and effective rents were unchanged in April. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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