Columbus Industrial Figures Q3 2026

In Q3 2026, the Columbus industrial market continued to tighten as tenant demand remained robust and occupancy improved. Net absorption totaled 2.5 million sq. ft., marking the seventh consecutive quarter of positive demand and contributing to more than 8.0 million sq. ft. of year-to-date absorption. Leasing activity accelerated to 10.1 million sq. ft., up 62.4% from the prior quarter, while vacancy declined 70 basis points to 4.7%, its lowest level since 2023. Average asking rents increased to $7.07 per sq. ft., reflecting ongoing competition for available space across the market.

Demand remained broad-based, with every submarket recording flat or positive absorption during the quarter. Madison County, Pickaway County, Southeast and East generated the strongest occupancy gains, supported by several large-scale distribution leases. Despite 445,000 sq. ft. of deliveries, market fundamentals remained favorable as strong leasing activity continued to outpace new supply. Construction activity increased meaningfully to 14.4 million sq. ft. underway, driven by a wave of new speculative projects, though vacancy remains well below historical norms and rents continue to trend upward.