Written by: Collin Fitzgerald
Collin specializes in research capabilities, providing support for the Colliers Columbus Office, Industrial and Retail 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 for insight into Columbus office deals over the past 20 years.
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Despite the fluctuations in the number and frequency of deals, the average deal size in the Columbus market has remained relatively stable at 4,785 SF.
Over the past two decades, the Columbus office market has seen diverse real estate transactions, reflecting both the city's growth and broader economic trends. Notable developments, such as the Arena District and Easton Town Center, have consistently attracted high-profile tenants, contributing to the market's dynamic nature. Despite these expansions, the office market has also experienced periods of contraction, particularly during economic downturns such as the 2008 financial crisis and the COVID-19 pandemic.
Interestingly, despite the fluctuations in the number and frequency of deals, the average deal size in the Columbus market has remained relatively stable at 4,785 SF. This stability can be attributed to several factors, including consistent demand for mid-sized office spaces and the balanced approach developers and investors have taken toward risk and reward. While more significant deals occasionally make headlines, a substantial portion of transactions falls within a similar size range, driven by steady local business growth and the city's strategic efforts to attract and retain companies.
This equilibrium in deal size highlights Columbus's resilience and adaptability as an office market. The city's ability to maintain a steady average deal size, despite economic challenges and shifts in market dynamics, underscores a well-managed and diversified market structure. This stability offers a level of predictability and confidence to investors and developers, ensuring that Columbus remains an attractive destination for office space investments and business operations.