Columbus, OH Market Trends: Commercial Real Estate

Multifamily Property Asking Price Index – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

$31,851.70 +0.6% +2.0%

Metro

$50,746.35 +14.0% +38.9%

County

$55,429.94 +15.2% +48.0%

City

$55,742.51 +9.9% +45.6%

Current Columbus market trends data indicates an increase of +9.9% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +45.6% compared to last year’s prices. County-wide, asking prices for Multifamily properties are 15.2% higher at $55,430 per unit compared to the current median price of $55,743 per unit for Multifamily properties in Columbus, OH.

Office Property Asking Price Index – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

$73.09 +1.3% +0.8%

Metro

$102.14 +2.7% +7.6%

County

$98.02 +2.4% +5.9%

City

$94.27 +3.6% +9.2%

Current Columbus market trends data indicates an increase of +3.6% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +9.2% compared to last year’s prices. County-wide, asking prices for Office properties are 2.4% higher at $98 per sq ft compared to the current median price of $94 per sq ft for Office properties in Columbus, OH.

Industrial Property Asking Price Index – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

$32.24 +1.4% +0.7%

Metro

$39.49 +3.1% -2.4%

County

$40.38 +3.1% +2.3%

City

$39.22 +3.5% +4.0%

Current Columbus market trends data indicates an increase of +3.5% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +4.0% compared to last year’s prices. County-wide, asking prices for Industrial properties are 3.1% higher at $40 per sq ft compared to the current median price of $39 per sq ft for Industrial properties in Columbus, OH.

Retail Property Asking Price Index – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

$74.10 -0.7% -4.6%

Metro

$98.36 +2.9% +13.5%

County

$96.00 +3.0% +18.0%

City

$96.86 +3.0% +14.1%

Current Columbus market trends data indicates an increase of +3.0% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with an increase of +14.1% compared to last year’s prices. County-wide, asking prices for Retail Commercial properties are 3.0% higher at $96 per sq ft compared to the current median price of $97 per sq ft for Retail Commercial properties in Columbus, OH.

Multifamily Property Sale Prices – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

$22,431.27 +1.1% +14.6%

Metro

$32,900.47 +4.6% +18.2%

Office Property Sale Prices – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

$57.80 -0.2% +17.0%

Metro

$61.35 +2.0% +12.6%

Industrial Property Sale Prices – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

$33.79 +8.5% +10.4%

Metro

$37.84 -4.8% +16.4%

Retail Property Sale Prices – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

$37.04 -7.1% +9.5%

Metro

$51.92 -9.0% -32.2%

Multifamily Property Total $ Available For Sale – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

9 -20.0% -21.5%

Office Property Total $ Available For Sale – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

35 +1.3% -34.4%

Industrial Property Total $ Available For Sale – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

45 +6.4% -23.8%

Retail Property Total $ Available For Sale – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

22 -3.3% -23.0%

Multifamily Property No. of Listings – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

19 -2.8% -39.4%

Office Property No. of Listings – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

43 +2.9% -34.4%

Industrial Property No. of Listings – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

48 +0.2% -32.3%

Retail Property No. of Listings – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

40 -4.9% -43.8%

Multifamily Property Profile Views (Demand) – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

89 -19.6% -10.4%

Office Property Profile Views (Demand) – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

186 -12.7% +2.4%

Industrial Property Profile Views (Demand) – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

270 -4.3% +20.9%

Retail Property Profile Views (Demand) – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

201 -4.3% +50.8%

Office Property Total SF Available – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

42 -1.5% -34.1%

Industrial Property Total SF Available – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

51 -0.4% -23.2%

Retail Property Total SF Available – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

26 -1.2% -35.0%

Multifamily Property No. of Units For Sale – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

8 -32.0% -43.5%

Multifamily Property Days on Market – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

182 +5.0% +10.2%

Metro

171 +2.2% -4.3%

Office Property Days on Market – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

297 +12.9% +0.5%

Metro

343 +8.7% +8.7%

Industrial Property Days on Market – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

311 0.0% +6.1%

Metro

289 -5.9% -7.7%

Retail Property Days on Market – Sale Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

180 +6.1% -9.0%

Metro

185 +6.6% -12.1%

Office Property Asking Rent – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

$13.20 +0.1% +0.4%

Metro

$13.13 +0.2% +1.4%

County

$13.21 +0.3% +1.9%

City

$13.51 +0.7% +2.3%

The average asking rental rate per sq ft/year for Office properties in Columbus, OH as of Jun 15 was $13.51. This represents an increase of 0.7% compared to the prior 3 months, with an increase of +2.3% year-over-year. County-wide, average rental rates in Columbus are +0.3% higher at $13.21 per sq ft/year for Office properties currently for lease.

Industrial Property Asking Rent – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

$4.62 0.0% +2.4%

Metro

$5.16 +0.4% +0.7%

County

$5.23 +0.5% +1.3%

City

$5.19 +1.7% +3.2%

The average asking rental rate per sq ft/year for Industrial properties in Columbus, OH as of Jun 15 was $5.19. This represents an increase of 1.7% compared to the prior 3 months, with an increase of +3.2% year-over-year. County-wide, average rental rates in Columbus are +0.5% higher at $5.23 per sq ft/year for Industrial properties currently for lease.

Retail Property Asking Rent – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

$10.84 +0.1% +0.7%

Metro

$12.45 +3.8% +4.2%

County

$12.61 +3.9% +3.7%

City

$12.41 +3.5% +5.8%

The average asking rental rate per sq ft/year for Retail Commercial properties in Columbus, OH as of Jun 15 was $12.41. This represents an increase of 3.5% compared to the prior 3 months, with an increase of +5.8% year-over-year. County-wide, average rental rates in Columbus are +3.9% higher at $12.61 per sq ft/year for Retail Commercial properties currently for lease.

Office Property No. of Spaces – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

62 -2.2% -27.9%

Industrial Property No. of Spaces – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

43 -3.1% -34.7%

Retail Property No. of Spaces – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

60 -2.0% -27.1%

Office Property Profile Views (Demand) – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

383 -17.0% -7.5%

Industrial Property Profile Views (Demand) – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

279 -21.2% +2.2%

Retail Property Profile Views (Demand) – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

210 -20.2% +2.5%

Office Property Total SF Available – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

60 -0.8% -22.7%

Industrial Property Total SF Available – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

48 +2.0% -19.4%

Retail Property Total SF Available – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

Metro

40 -7.8% -37.8%

Office Property Days on Market – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

329 +14.6% +10.6%

Metro

300 -15.7% -10.4%

Industrial Property Days on Market – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

347 -2.9% +20.9%

Metro

251 +6.4% -12.4%

Retail Property Days on Market – Lease Trends

Jun 15 vs. 3 mo. prior Y-O-Y

State

340 +1.4% -8.1%

Metro

389 -11.7% +15.2%