Columbus Office Figures Q3 2026

In Q3 2026, the Columbus office market continued to improve as tenant demand accelerated, and occupancy gains strengthened. Net absorption totaled 198,000 sq. ft., while leasing activity reached 810,000 sq. ft., the highest quarterly volume recorded in the past three years. As a result, overall vacancy declined 50 basis points quarter-over-quarter to 20.0%. Asking rents remained elevated at $23.08 per sq. ft., supported by continued demand for high-quality office space and a limited development pipeline.

Performance was led by Class A assets, where vacancy fell to 18.9% and asking rents climbed to a record $28.57 per sq. ft. Occupancy gains were concentrated in Dublin, Grandview, Polaris and Worthington, while Downtown continued to face elevated vacancy despite capturing more than half of quarterly leasing activity. Development activity remained minimal, with just 49,000 sq. ft. under construction and 15,000 sq. ft. delivered, positioning the market for continued improvement as available space is gradually absorbed.