Columbus
Total Stock (million sq. ft.)
256.3
Vacancy Rate
4.4%
Availability Rate
5.1%
NNN Lease Rate
$3.87
Net Absorption (million sq. ft.)
1.1
256.3
Vacancy Rate
4.4%
Availability Rate
5.1%
NNN Lease Rate
$3.87
Net Absorption (million sq. ft.)
1.1
Metro Area Population
2.1 million
Unemployment Rate
4.1%
Annual Salary - Warehouse
$27,040
% of Pop - Associate Degree and Below
63.6%
% of Pop - Bachelor's Degree and Above
36.4%
2.1 million
Unemployment Rate
4.1%
Annual Salary - Warehouse
$27,040
% of Pop - Associate Degree and Below
63.6%
% of Pop - Bachelor's Degree and Above
36.4%
Airport
Rickenbacker International Airport
Total Cargo (millions of U.S. tons)
0.13
Major Highways
I-270, I-71, I-70
Number of Intermodal Rail Hubs
3
Number of Class I Rail Lines
2
What is the term of a typical lease?
5-10 years
How is the rent quoted?
NNN annual
What is the tenant's option for termination or break?
Typically, the tenant does not have the right to terminate the lease.
Does the tenant have the option to renew? What is the length of the typical option?
Typically tenant receives one or two options to renew the lease for a term of 3 or 5 years each.
How is the rent determined at renewal?
Not to be less than previous years rent.
What is the typical rent-free period, if any?
0-3 months
What is the typical rent escalation?
2%-3%
Does the tenant have the right to sublet?
Yes
5-10 years
How is the rent quoted?
NNN annual
What is the tenant's option for termination or break?
Typically, the tenant does not have the right to terminate the lease.
Does the tenant have the option to renew? What is the length of the typical option?
Typically tenant receives one or two options to renew the lease for a term of 3 or 5 years each.
How is the rent determined at renewal?
Not to be less than previous years rent.
What is the typical rent-free period, if any?
0-3 months
What is the typical rent escalation?
2%-3%
Does the tenant have the right to sublet?
Yes
What is the unit of measurement of a typical lease?
Per sq. ft. per year
Does the leasable area include the common area?
Yes
Per sq. ft. per year
Does the leasable area include the common area?
Yes
What is the average rent for a warehouse greater than 50K sq. ft.?
$4.50 per sq. ft. per year, gross
What is the average rent for a manufacturing facility greater than 50K sq. ft.?
$4.50 per sq. ft. per year, gross
Is there a rent review during the lease?
No
What are the average service charges (OPEX)?
$0.40-$1.75 per sq. ft. per year
Who is responsible for the service charges?
Tenant
What are the average taxes paid on the lease?
$0.10-$1.30 per sq. ft. per year
Who is responsible for the property taxes?
Tenant
Who is responsible for the utilities?
Tenant
Who is responsible for the fit-out costs, if any?
Landlord
What is the typical security deposit?
1 month rent
How is car/truck parking paid?
Included in rent
Any other occupancy costs?
Tenant pays trash removal, janitorial and CAM
$4.50 per sq. ft. per year, gross
What is the average rent for a manufacturing facility greater than 50K sq. ft.?
$4.50 per sq. ft. per year, gross
Is there a rent review during the lease?
No
What are the average service charges (OPEX)?
$0.40-$1.75 per sq. ft. per year
Who is responsible for the service charges?
Tenant
What are the average taxes paid on the lease?
$0.10-$1.30 per sq. ft. per year
Who is responsible for the property taxes?
Tenant
Who is responsible for the utilities?
Tenant
Who is responsible for the fit-out costs, if any?
Landlord
What is the typical security deposit?
1 month rent
How is car/truck parking paid?
Included in rent
Any other occupancy costs?
Tenant pays trash removal, janitorial and CAM
What are typical agency fees? Who pays them?
5% of the net payable rent to tenant rep.; 2%-3% for landlord rep.
Who is responsible for legal fees?
Each party is responsible for their own legal fees.
Any other transaction costs?
N/A
5% of the net payable rent to tenant rep.; 2%-3% for landlord rep.
Who is responsible for legal fees?
Each party is responsible for their own legal fees.
Any other transaction costs?
N/A
What is the typical land tenure?
20-50 years
What is the terminology of the purchase agreement?
Sale & Purchase Agreement
What is the average cost?
Warehouse - $60 per sq. ft.
What is the agency fee and who pays?
3%-6% by seller
What is the typical LTV?
75%-80%
What is the average borrowing rate?
3%-5%
What is the mode of payment?
Rent is due monthly at the beginning of the month.
What are the average transaction (closing) costs?
Transfer tax of 1%-2% plus attorney fees.
20-50 years
What is the terminology of the purchase agreement?
Sale & Purchase Agreement
What is the average cost?
Warehouse - $60 per sq. ft.
What is the agency fee and who pays?
3%-6% by seller
What is the typical LTV?
75%-80%
What is the average borrowing rate?
3%-5%
What is the mode of payment?
Rent is due monthly at the beginning of the month.
What are the average transaction (closing) costs?
Transfer tax of 1%-2% plus attorney fees.
What is the average clear ceiling height?
28' - 36'
Average number of dock doors?
20-100
Typical column spacing?
50' x 50'
Average parking ratio?
0.5 per 1,000 sq. ft.
Sprinkler system?
ESFR
What is the typical power supply?
1,600 amps, 3 phase
28' - 36'
Average number of dock doors?
20-100
Typical column spacing?
50' x 50'
Average parking ratio?
0.5 per 1,000 sq. ft.
Sprinkler system?
ESFR
What is the typical power supply?
1,600 amps, 3 phase
CBRE Americas Industrial & Logistics Occupier Guide