Columbus Office Trends Q1 2021
The Columbus office market continues to be impacted by the ongoing COVID-19 pandemic, posting negative net absorption of 351,686 square feet and vacancy of 11.8 percent this quarter. A majority of this can be attributed to the 700,000+ square feet of sublease space that has been added to the market over the past year. On a positive note, development remains high with 1.4 million square feet underway and tenant demand is picking up. There was 355,000 square feet of new leasing activity this quarter, compared to 214,000 square feet last quarter, signifying that the office market is beginning to rebound.