Intelligence

Regional Summaries

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Columbus, OH

Apartment
The 146,284-unit metro Columbus apartment market finished the first quarter of 2019 with a 4.6% vacancy rate, down 10 basis points from the prior quarter and up 40 basis points year-over-year. This year started with strong quarterly average rent gains of 0.5% asking, to $950 per month, and 0.6% effective, to $905. These rents are up 4.7% and 4.9% over the year. VIEW APARTMENT LISTINGS >
Industrial
The 119.7-million-square-foot Columbus warehouse/distribution market finished the first quarter of 2019 with a vacancy rate of 10.6%, down 70 basis points for the quarter and down 180 for the year. Asking and effective rents were unchanged and up 0.3% in the first quarter to $3.79 psf and $3.48 psf, respectively, and up 2.2% and 3.0% over 12 months. The 13.3-million-square-foot Columbus Flex/R&D market finished the first quarter of 2019 with a 12.5% vacancy rate. This is down 90 basis points from the prior quarter rate and down 50 over 12 months. Reis reports first quarter average asking and effective rents of $6.06 psf and $5.35 psf, up 0.2% and 0.9% for the quarter, and up 1.3% and 1.9%, respectively, for the year. VIEW INDUSTRIAL LISTINGS >
Office
The 33-million-square-foot Columbus general purpose, multi-tenant office market shows a 19.8% vacancy rate in the first quarter of 2019. This rate is up 50 basis points for the quarter and up 100 basis points over 12 months. Reis reports first quarter average asking and effective rents of $19.36 psf and $15.42 psf, down 0.1% each for the quarter, and up 1.3% and 1.2% over the year. VIEW OFFICE LISTINGS >
Retail
The 27.5-million-square-foot Columbus community-neighborhood shopping center market posted an 11.7% vacancy rate in the first quarter of 2019. The rate is down 10 basis points for the quarter and 90 for the year. Reis reports average asking and effective community-neighborhood shopping center rents of $13.76 psf and $11.63 psf, each up 0.8% over the quarter and up 1.5% and 1.6% for the year. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, Inc. based on Market Summaries for the 85 Primary and Secondary Markets they cover.

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