Colliers | Columbus
THE WEEKLY REVIEW | March 24, 2023
Keeping up with CRE trends is as easy as 1-2-3 with our weekly piece! The Weekly Review is a new blog series that will be released every Friday. The market is constantly growing and adapting to new ventures and ideas, and our goal is to provide up-to-date information into what is happening in both the Columbus and U.S. markets, as well as the commercial real estate industry as a whole. As stories evolve, the Weekly Review will continue to follow along and update our clients and community.
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Industrial - Columbus Top US Industrial Markets by Sales Volume
“The Columbus region was one of the top markets in the United States for industrial sales in 2022, according to a new report. CommercialCafe's 2022 Industrial Real Estate Wrapped report ranked the biggest sales and top markets for industrial real estate sales, based on market research data from CommercialEdge. The report explored how top U.S. markets fared in terms of yearly sales volume and average prices per square foot and ranked the 50 largest industrial asset sales from last year. Columbus came in at No. 18 in the top U.S. industrial market sales by volume in 2022, recording $1.1 billion in sales. That tied Orange County, California; Baltimore, Maryland; and Nashville, Tennessee."
New Development - Columbus' Data Center Ascendancy Continues
Central Ohio has become a hub for tech companies looking to build data centers, with huge companies like Google, Meta and Amazon on the list. New Albany has been the epicenter of the data center boom, but it's not the only municipality in play. Tech giant Google is building a south Columbus facility, while Cologix, a smaller firm, is also building within Columbus city limits.
Growth - Columbus is a Relative Bargain for Renters Despite Housing Concerns
“A report released Tuesday puts a different perspective on central Ohio's housing challenges by concluding that Columbus is the second-most-affordable large city in the country for renters. The report, by Realtor.com, measures affordability through a simple equation of an area's median rent and income. The report finds that while rents have risen in the Columbus area, other cities have far more serious affordability challenges”.