Columbus, OH Market Trends: Commercial Real Estate
August 27, 2015 | Darrick G. Klamut
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% |