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Columbus Industrial Downturn Sees Potential Turnaround as Supply Growth Eases

Rents and absorption have plunged but construction is starting to slowdown.

By Anthony Russo | February 12, 2025 at 04:56 AM

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.

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