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Market Report

Columbus Office Market Report

2Q 2022

Landmark Tech Investment Boosts Office Outlook;
Mid-Tier Space Aligns with Tenants' Budgets

Intel's entrance puts a spotlight on Columbus. Among the metro's 12 submarkets, Licking County's dramatic decline in vacancy was particularly notable, as it followed Intel's announcement that the company will be building two computer chip manufacturing centers in the submarket. The company is expected to bring 3,000 permanent positions to the area in the next three years, and while the direct employment impact has yet to be felt, traditionally office-using firms are betting on significant, near-term economic growth. As Intel draws residents to the area, an increased need for nearby financial, business and professional services is likely to emerge, further bolstering local office demand and potentially sparking a wave of project proposals.
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