The Columbus office market kicked off 2018 in a steady way with more than 100,000 square feet of absorption in Q1, according to a new report by CBRE. The hot spot continues to be the suburban markets, as they continue to attract large tenants.
“Developers in the suburban markets have responded to the growing demand of tenants who want amenity-rich offices,” said Katie Zachrich, associate, CBRE. “Properties such as The Pointe at Polaris, Bridge Park in Dublin and Market Street in New Albany provide tenants with walkable restaurants, entertainment options and services such as free parking, unlike downtown.”
In Q1 of 2018, the Pointe at Polaris was partially leased by Anthem (35,000 square feet). Interest remains strong at Hamilton Quarter and Bridge Park, which has already attracted notable large tenants including Big Lots (333,000 square feet), Updox (28,000 square feet), and Kappa Kappa Gamma (22,000 square feet) respectively.
Other Q1 2018 office market highlights include:
- Construction completed at 8050 Walton Parkway (56,000 square feet), which was fully leased by EASi.
- Construction broke ground on an 80,000-square-foot office building in the Bridge Park development.
- Anthem leased 35,000 square feet at the Pointe at Polaris, a recently completed mixed-use building in the Polaris Submarket
- Coworking company, Spaces, leased 42,000 square feet. at 711 N High St., a project currently under construction in the Short North.
- Central Ohio Primary Care opened its new 42,000-square-foot headquarters in Westerville.
You can read the full Columbus Office Q1 2018 Marketview here.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.