Columbus Office Trends Q3 2020
The Columbus office market started to feel the effects of the ongoing COVID-19 pandemic, recording negative net absorption of 664,924 square feet in the third quarter. Nearly 500,000 square feet of this can be attributed to sublease vacancy that has come on the market, compared to direct vacant space which has not significantly risen this year. This added sublease space also caused the overall vacancy rate to rise to 10.58 percent. Despite sublease vacancy increasing, direct vacancy remains stable, rising only by a quarter percentage to 9.37 percent this quarter.