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 Collin's insights on the Polaris submarket in Q2 2024.
Columbus - Polaris Office Submarket
Submarket Key Takeaways
The Polaris submarket's biggest move out was Lakeshore Cryotronics, which moved out 17,134 square feet in Q2, while the biggest move-in was 5,698 feet by 3SG Plus.
Polaris' current vacancy rate is 26.46%, and we expect to see this vacancy rate decline slightly as more tenants look for Class A space in the suburban areas.
The commercial office market in Polaris is a critical component of the region's business landscape, known for its modern office spaces and strategic location along the I-71 corridor. Polaris, situated just north of downtown Columbus, has developed into a major commercial hub, offering a mix of Class A office buildings, corporate campuses, and flexible office spaces designed to meet the needs of various industries. The area's appeal is heightened by Polaris Fashion Place, a large shopping mall that draws significant foot traffic and provides ample amenities for businesses and their employees.
The two most prominent industries seeking space in the Polaris submarket are Engineering and General.
Check out the full Q2 2024 Polaris Submarket Office Report, as well as other Submarket Reports here!
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