Columbus Industrial Market Report

Bulk leasing holds firm even as retail-related tenants scale back. Despite softer leasing activity across the metro, demand for big-box space in Columbus’ eastern submarkets remains resilient. All 2 million square feet delivered in the first quarter of 2025 was pre-leased, including a 1 million-square-foot commitment in Licking County that helped push local vacancy down by 100 basis points early in the year. Similar tightening was recorded near John Glenn Columbus International Airport. Further south, Pickaway County is emerging as a bulk leasing hub; new distribution facilities for Coca-Cola and Anduril underscore the area’s appeal to logistics users. By contrast, leasing has softened among consumer goods firms. Big Lots’ planned exit from 3.9 million square feet of industrial space in the northwest is likely to push vacancy higher. Still, nearly 6 million square feet of large-format leases are scheduled for move-in during the second half of 2025, supporting occupancy levels as deliveries slow.