WHAT'S HAPPENING IN THE COLUMBUS OFFICE MARKET? Q1 2026

Written by: Jake Lord

Jake specializes in research capabilities, providing support for the Colliers Columbus Office, Industrial, Retail and Capital Market 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 to delve into the key findings of each office report to gain a deeper understanding of the trends driving the Columbus office market.

Tenant Migration - Where are Tenants Moving?

Tenants are constantly relocating their office space to better fit their needs. Using a points system based on signed square feet, we can track where office users are coming and going throughout the city. Check out our tenant migration heat map, and click around for more information on the movement within each submarket.

Advanced Drainage Systems completed the largest move of the quarter, occupying 4024 Green Stripe Ln in the Hilliard submarket. New leasing activity was concentrated in the CBD and Worthington submarkets, accounting for 31% and 16% of total quarterly activity, respectively, while Dublin captured an additional 15%. Companies from a wide-range of industries signed deals throughout Columbus in Q1 2026, with business services and financial services companies accounting for 20% and 18% of activity, respectively.

High-Rise Report - What's Happening Downtown?

The Q1 2026 report highlights Columbus' evolving downtown office landscape. Vacancy in the CBD increased to 18.46 percent, which is lower than the overall market’s vacancy of 19.18 percent. The CBD currently has 64,838 square feet under construction, which includes the Merchant Building. Several projects have been completed in the CBD over the past few years, such as the first phase of Scioto Peninsula, the Front and Fulton development, the second half of the Gravity project in Franklinton and the renovation of the Municipal Light Building. While construction activity in the CBD has slowed, several projects are underway such as the Capital line project and Gay Street Corridor revitalization. Tenants are continuing to stay active in the CBD, with 21 users representing 271,200 square feet currently searching for space specifically in the urban Columbus area. Columbus can anticipate increased activity throughout 2026 as users become more comfortable entering the market and making decisions regarding their office space.

Sublease Activity - Analysis of Office Sublease Space

Approximately 42% of available sublease space is concentrated in the Dublin submarket, while the Westerville, New Albany, CBD and Easton submarkets also represent a significant share. The largest available sublease block is at 5100 Rings Rd, where Cardinal Health vacated 406,000 square feet in Q3 2022. The second largest block is located at 5400 New Albany Rd in New Albany, where State Farm vacated 155,656 square feet in Q2 2023. This space has remained fully vacant since then. Overall, sublease availability remained at 1.2 million square feet, as new listings offset a few signings seen in Q1 2026. Additionally, a large sublease was signed by Gifthealth in the CBD at 80 E Rich St for over 18,000 square feet during Q1 2026.

Check out our Q1 2026 Tenant Migration Report, High-Rise Reports, and Sublease Activity Report here!

Q1 2026 Reports