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Market Report

Columbus Office Investment Forecast

2020 Outlook

Columbus Sustains Elevated Demand; Suburban Value-Add Investments Draw Attention


Tightening market conditions spark speculative development. Leasing activity continues to rise throughout Columbus as professional and business services firms expand. Space demand in the northern suburbs, in particular, is encouraging new construction. More than half of the nearly 700,000 square feet scheduled for delivery this year will come online in the area. Northeast of downtown toward the Interstate 270 loop, one of the largest projects underway is the Easton Phase III development, which will contain over 250,000 square feet of office space within three separate buildings. Furthermore, in the northwest suburb of Dublin, the construction of Bridge Park will add approximately 100,000 square feet to the market. Although more than 50 percent of this space is available entering the year, healthy demand growth will be sufficient to support a vacancy decline for the second consecutive year.

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