Columbus 2022 Q4 Industrial Market Report

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Market Trends

  • While still near historic lows, vacancy has climbed 80 basis points from the Q2 2022 low of 2.9%. Annual net absorption of 15.6 million square feet (msf) outpaced deliveries of 12.5 msf.
  • A construction pipeline totaling 22.9 msf, of which 71% remains available, will continue to deliver new bulk product to the market. If leasing activity and demand slow, further upward movement in vacancy is expected.
  • Licking, Pickaway and the Southeast submarkets make up 10.4 msfof the under-construction availability and are most at risk of near-term oversupply.

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