OUR TAKE ON THE 2027 EMERGING TRENDS IN REAL ESTATE REPORT

Written by: Stephanie Morris

ULI and PwC recently published a report on emerging trends in real estate for 2027. Stephanie Morris, Senior Research Analyst at Colliers | Columbus breaks down the report’s key findings and shares her perspective on what it means for Columbus.

Report Highlights

ULI and PwC’s Emerging Trends in Real Estate® 2027 highlights how location, infrastructure and the availability of suitable space are shaping real estate decisions. While conditions vary across sectors, opportunities increasingly depend on local demand and the ability to accommodate it.

Office demand continues to favor established, desirable locations. When top-tier space is unavailable, tenants are often more willing to compromise on building quality than location. This creates opportunities to improve well-located properties. Spec suites can also help attract tenants while allowing owners to control construction costs and reuse improvements across future leases.

Industrial construction is beginning to recover where demand supports additional supply. However, power constraints, land costs and development timelines are expected to keep the next cycle more measured. Access to adequate power is becoming an increasingly important consideration for manufacturers and data center suppliers.

Retail fundamentals remain supported by limited construction and scarce quality space, despite continued pressure on consumers. Value-oriented retailers remain active, with tenant mix and trade-area demographics influencing property performance.

Multifamily conditions could improve as deliveries slow and recently completed units are absorbed. High homeownership costs continue to support rental demand, although lease-up competition, concessions and financing costs will affect the pace of recovery.

Our Take

These national themes are particularly relevant to Columbus, which ranked No. 19 for overall real estate prospects and received a dedicated profile in the report’s “Markets to Watch” section. Central Ohio’s diversified economy, logistics infrastructure and university talent pipeline provide a strong foundation for growth. Manufacturing, defense technology, pharmaceuticals and digital infrastructure are expanding an economic base already supported by logistics, education, government and professional services.

For Columbus, sustaining that momentum will depend on how effectively the region accommodates growth. Power, transportation, workforce availability and housing affordability will influence both business expansion and real estate demand. The opportunity lies in understanding where those resources align with tenant needs as projects move from announcements through construction and into operations.