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Columbus Office Trends Q2 2023
The Columbus office market has adapted to the changes in the workplace environment within the last three years. Negative absorption was recorded for the second quarter of 2023, and the vacancy rate increased slightly from 18.73 to 18.77 percent. Sublease vacant space increased to 3.72 percent with the availability over four percent. Asking rates have remained steady while operating expenses continue to increase slightly for an overall full-service rate of $22.14. The need for office space has stayed consistent as construction remains targeted on Class A space, which offers desirable building amenities for employees to enjoy.