Market Insights
Located in the center of Ohio, Columbus is the 2nd largest city in the Midwest and the 14th-largest in the United States.
The region, whose population has never declined, is experiencing a period of tremendous growth and boasts some of the best business resources around.
Why Columbus?
Columbus is located within a 10-hour drive of 46 percent of the country’s population, making it a point of access for businesses and consumers. With access to top transportation networks like John Glenn International Airport, Rickenbacker International Airport, numerous rail terminals and national interstates, Columbus is a certified logistics hub.
Columbus Industrial Market Trends
The Columbus industrial market continued to push forward despite the effects from inflation. The market had over 1 million square feet of net absorption. The vacancy rate rose slightly from 5.61 percent to 5.96 percent and average asking rates rose slightly to $7.01.
National Industrial Market
The U.S. industrial sector started to show signs of deceleration during the third quarter. While the development pipeline remains incredibly full and quarterly new supply achieved a new record during the quarter, demand is starting to wane for industrial product.