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CHART OF THE MONTH: INDUSTRIAL LEASE SIZES 2019 VS. 2024

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. Continue reading for insights into the industrial lease sizes signed in 2019 compared to those in 2024.


*Leases signed in 2019 and 2024


  • Industrial leasing activity in Columbus has shown a significant evolution from 2019 to the present day. Prior to the pandemic, the market was stable, with consistent leasing sizes and healthy demand. However, the pandemic caused disruptions in global supply chains, leading to a surge in demand for e-commerce and logistics spaces. This shift resulted in increased leasing of larger facilities, particularly in the Columbus market, which is a key logistics hub due to its central location. During the pandemic, the Columbus industrial market experienced a boom in activity, with many businesses seeking larger spaces to accommodate shifts towards e-commerce. However, by 2023, the market started to normalize. Although there was still demand for new developments, particularly in logistics, the overall lease activity began to show signs of stabilization, moving towards pre-pandemic levels. By the end of Q3 2023, notable lease transactions involved logistics companies, with the top three deals amounting to over 2 million square feet, indicating sustained but more measured demand compared to the peak pandemic years​.


  • Overall, Columbus' industrial leasing market appears to be recalibrating as it returns to more balanced levels of lease size and activity, similar to those seen before 2020. The current trend suggests that, while the pandemic caused a temporary surge in industrial real estate, the market is now stabilizing, driven by consistent demand in logistics and manufacturing sectors, with ongoing developments catering to future growth.

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