Written by: Collin Fitzgerald
Collin specializes in research capabilities, providing support for the Colliers Columbus Office, Industrial and Retail groups. He is responsible for executing data reports, maintaining a commercial property database, reporting quarterly trends, performing data analysis and utilizing statistical information to predict future behavior in the market. Keep reading for insight into the age of Columbus industrial inventory.
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Just over two-thirds of industrial inventory is 20 years old or older. One-third of Columbus industrial inventory is 50 years or older
All of the new supply and modern building designs in Columbus are helping combat the aging industrial inventory in the area. Currently, industrial buildings in Columbus have an average age of 44 years old, which is slightly under the average U.S. age of 46 years old.
The pandemic development boom in the Columbus industrial market from 2020-2022 saw 34.9 million SF of industrial deliveries, which is nearly half of all inventory delivered in the past decade.
All construction activity has decreased by over 25 percent year-over-year. Build-to-suit projects are steering construction due to debt and capital markets having negative impacts on speculative construction. Build-to-suit construction has risen to 73 percent of total construction, amounting to 7.9 million SF of construction. This trend will likely continue until the uncertainty about the U.S. macroeconomics subsides.