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Market Report

Columbus Retail Market Report

2Q 2023

Central Location Fosters Tight Single-Tenant Vacancy,
Offsetting Higher Multi-Tenant Levels

Single-tenant vacancy in Columbus one of the lowest nationally. A one-day drive away from 65 percent of the U.S. population, as well as Toronto, Québec and Montreal residents, Columbus receives its share of through traffic. Retail space proximate to travel routes and those optimal for quick stops have been heavily leased as a result, contributing to Columbus’ nationally-tight, single-tenant vacancy. At 2.4 percent, the sector’s rate was the second lowest among major U.S. metros in the first quarter, with none of Columbus’ 12 submarkets exceeding 3.5 percent segment vacancy in March. Single-tenant conditions are poised to remain tight over the near-term as an increase in summer travel — and therefore, through traffic — may lift spending at area restaurants, fast-food chains and retailers with heavy stocks of necessity goods. 

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