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Columbus Office Trends Q4 2020
The Columbus office market continues to be impacted by the ongoing COVID-19 pandemic, posting negative net absorption of 278,546 square feet this quarter. A majority of this can be attributed to a rise in sublease vacancy that has come on the market, compared to direct vacant space which has not been hit as hard thus far. The nearly 700,000 square feet of added sublease space this year has driven vacancy up to 11.2 percent in the fourth quarter. However, vacancy for direct space remains stable in comparison, increasing slightly to 9.7 percent mainly due to completed vacant speculative space added to the market.