CHART OF THE MONTH: CLASS A VS. B LEASE VELOCITY (COLUMBUS OFFICE MARKET)
- Colliers | Columbus
- 4 hours ago
- 2 min read
Written by: Stephanie Morris
Stephanie specializes in research capabilities, providing support for the Colliers Columbus Office, Industrial, Retail and Capital Market groups. She 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 her take on Class A vs. B lease velocity in the Columbus office market.
In the post-pandemic office environment, flight-to-quality has dominated national headlines with large occupiers driving highly visible investments in Class A+ office space. While these transactions are impactful, they represent a narrow slice of overall leasing activity.
In Columbus, demand for Class B office space continues to form the backbone of the market. While Class A+ commitments capture attention, the majority of lease velocity occurs in Class B assets, driven by smaller tenants prioritizing affordability, right-sized footprints, and functional locations.
Over the past eight years, Class B buildings have recorded more leases in seven of the last eight years, with 2023 standing as the lone exception. The data reinforces that Class B office is sustaining market activity beneath the surface of headline transactions.
While Class A transactions dominate media attention, Class B assets account for the majority of leasing activity. Over the past eight years, Class B buildings captured approximately 55% of all executed leases, reinforcing their role as the primary driver of market liquidity in Columbus.
The lone deviation occurred in 2023, when a limited number of large Class A commitments temporarily shifted aggregate leasing volume. This shift proved short-lived, as Class B lease velocity rebounded the following year.
Lease activity in Columbus is driven less by trophy transactions and more by steady Class B absorption, underscoring the importance of pricing discipline and operational efficiency for owners of mid-tier assets.
For more information on current office trends, check out our 2026 Columbus Office Tenant Report!
