Figures
Columbus Office Figures Q1 2026
April 9, 2026 10 Minute Read
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In Q1 2026, the office market posted lower vacancy and availability than in recent periods. From a peak of 22.6% in Q1 2024, vacancy declined to 20.0% in Q1 2026, a 260‑basis‑point reduction, while availability moved from 24.7% to 22.9% over the same period. Net absorption in 2025 totaled 505,000 sq. ft., following 260,000 sq. ft. of net move‑outs in 2024, and average asking rents increased 9.8% between Q1 2021 and Q1 2026 to $22.80 per sq. ft.
Year‑over‑year, Q1 2026 recorded lower vacancy and availability and higher rents than Q1 2025. Vacancy was 220 basis points lower, availability was 240 basis points lower, and asking rents were 1.9% higher than a year earlier. YTD net absorption improved by 170,000 sq. ft., from negative 20,000 sq. ft. in Q1 2025 to positive 150,000 sq. ft. in Q1 2026. Quarter‑over‑quarter, vacancy decreased a further 50 basis points from 20.5% in Q4 2025, net absorption declined from 311,000 sq. ft., and rents rose 0.6% from $22.67 per sq. ft.
Year‑over‑year, Q1 2026 recorded lower vacancy and availability and higher rents than Q1 2025. Vacancy was 220 basis points lower, availability was 240 basis points lower, and asking rents were 1.9% higher than a year earlier. YTD net absorption improved by 170,000 sq. ft., from negative 20,000 sq. ft. in Q1 2025 to positive 150,000 sq. ft. in Q1 2026. Quarter‑over‑quarter, vacancy decreased a further 50 basis points from 20.5% in Q4 2025, net absorption declined from 311,000 sq. ft., and rents rose 0.6% from $22.67 per sq. ft.