Columbus Retail Market Report

Sluggish construction minimizes vacancy pressures. A new record-low construction slate will provide relief to existing premises against a rising vacancy rate. While east Columbus and Union County lead in deliveries in the second half of the year, neither submarket expects more than 30,000 square feet of space. Columbus’s projected supply growth rate is half that of its Ohio neighbors, despite stronger population and employment growth. These trends may lend some help to retail performance, but new demand is unlikely to balance out the net relinquishments in the first half of the year. However, there was a silver lining of positive net absorption on the north and south sides. Both areas reported sub-4 percent vacancy in June, with the north side aided by foot traffic near Ohio State.