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Columbus Office Trends Q2 2021
As the world continues to feel the effects of the ongoing COVID-19 pandemic, the Columbus office market recorded negative net absorption of 48,300 square feet in the second quarter. The 1 million+ square feet of new sublease space that has been added to the market since Q2 2020 has driven the vacancy rate up to 12.12 percent. Central Ohio is showing signs of recovery, with development and leasing activity picking up significantly this year. With 1.2 million square feet of product underway and a 5.4 percent QoQ increase in leased square feet, the office sector is demonstrating its resilience and beginning to rebound.