Limited construction fuels sustained vacancy decline

Columbus

• Rising demand across the Columbus office market has led to steady decreases in vacancy across both Class A and Class B assets. Class A vacancy currently stands at 9.7 percent, a decrease of 2.7 percent year-over-year. Meanwhile, Class B vacancy is 15.1 percent, a decline of 20 basis points year-over-year. Leasing activity has been animated with many tenants expanding their footprints. As a result, over 335,000 square feet of net absorption was recorded over the third quarter. Year-to-date absorption now sits at just over 800,000 square feet.

Source: JLL Research

Chart of the week: November 23, 2015

6.0%

10.0%

14.0%

18.0%

22.0%

2010 2011 2012 2013 2014 YTD 2015

Class A Class B

Office Vacancy Rates