It's been nothing but pain for CRE operators in Columbus' industrial market throughout 2024. A report from Savills showed that multiple key fundamentals experienced big declines.
Most notably, net absorption last year was only 1.6 million square feet, representing a plunge of 82 percent from 2023. Vacancies spiked by 250 basis points to nearly 10 percent.
Also, asking rents tumbled have fallen to $5.85 per square foot NNN. That's down 7.5 percent from the third quarter 2023 peak of $6.32 per square foot.
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