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Regional Summaries

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Columbus, OH

Apartment
The 142,423-unit metro Columbus apartment market finished the third quarter of 2017 with a 3.9% vacancy rate, down 30 basis points from the prior quarter and unchanged year-over-year. Monthly data from Reis show a 4.1% rate for November 2017. Rents had another good quarter, although not as good as the plus 1.0% gains seen in the second quarter. Average asking and effective rents, at $884 and $845 per month, rose 0.9% and 1.0% for the quarter, respectively, and 3.2% and 3.3% for the year. VIEW APARTMENT LISTINGS >
Industrial
The 115.4-million-square-foot Columbus warehouse/distribution market finished November 2017 with a vacancy rate of 12.7%. The rate had been 13.0% in the third quarter of 2017. This was up 70 basis points over 12 months. Asking and effective rents were up 0.8% and 0.6% in the third quarter to $3.66 psf and $3.33 psf, respectively, and they were up 1.9% and 2.1% over 12 months. Modest gains generally prevail here, but both rental categories saw increases over 2.5% in 2015. Asking and effective rents rose 0.5% and 0.3% in November. The 13.3-million-square-foot Flex/R&D market finished November 2017 with a 12.9% vacancy rate. This is down 10 basis points from the third quarter rate of 13.0%. That rate is down 130 basis points over 12 months. Reis reports third quarter average asking and effective rents of $5.83 psf and $5.06 psf, up 0.9% and 0.8% for the quarter, and 2.5% and 2.6%, respectively, for the year. Asking and effective rents rose by 0.3% and 0.2% in November. VIEW INDUSTRIAL LISTINGS >
Office
The 32.4-million-square-foot Columbus general purpose, multi-tenant office market shows an 18.5% vacancy rate in the third quarter of 2017. This rate is down 20 basis points for the quarter but up 70 over 12 months. October and November vacancy came in at 18.9%. Reis reports third quarter average asking and effective rents of $18.96 psf and $15.12 psf, each up 0.1% for the quarter, and up 0.5% and 0.6%, respectively, over the year. Asking and effective rents rose 0.2% in November. VIEW OFFICE LISTINGS >
Retail
The 27.6-million-square-foot Columbus community-neighborhood shopping center market posted a 13.0% vacancy rate in November 2017. The rate finished the third quarter at 12.9%. Reis reports average asking and effective community-neighborhood shopping center rents of $13.46 psf and $11.37 psf, both up 0.8% over the quarter, and up 1.9% and 2.0% for the year. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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