Market Trends
- The start of the year was marked by several major deals, including a 900,000-square-foot lease by Invenergy and a 700,000-square-foot lease by Anduril.
- Vacancy remains elevated year over year but has hovered between 8.5% and 9.5% in recent quarters, suggesting potential normalization. Asking rents have declined 7.8% from their Q3 2023 peak, now averaging $5.83 psf.
- Columbus is well-positioned to continue attracting advanced manufacturing, due to its status as one of the most affordable industrial markets among major metros, along with access to a strong labor force and abundant power.