The unemployment rate in Columbus is 4.8%, below the rate for Ohio and matching the U.S. at 5.1% and 4.8% respectively. In addition to low unemployment rates, payroll provider ADP reported in February that U.S. companies escalated hiring in January, adding the most new workers since June.
Cushman & Wakefield surveys two sets of industrial property in Central Ohio. The overall market survey consists of properties larger than 10,000 square feet (SF) and totals 248 million square feet (MSF) of inventory. A specific subset consists of modern bulk buildings, which are defined as properties 100,000 SF or larger, have a minimum 28-foot clear height, and built in the last 15 years. The bulk modern class consists of 70 MSF of inventory. The overall Columbus industrial market posted total vacancy of 5.6% which is 104 basis-points less than a year ago, and slightly higher than last quarter’s 5.5%.
Source : Cushman & Wakefield