2022 Office Space Rent & Sales
- $21.88 2022 Avg. Asking Rent
- 16.99% 2022 Office Vacancy Rate
- $222.2M2022 Total Office Sales
- $130.35Avg. Sale Price/SF
Columbus office price per square foot in 2022 was $21.88 on average. The local office market recorded an average vacancy rate of 16.99% across all asset classes combined. The 18 transactions that closed here throughout 2022 amounted to a total sale volume of $222.2M. Columbus office space commanded an average sale price per square foot of $130.35.
Average Rent by Office Class
2022 Average Office Rent per Square Foot
- Columbus Class A & A+ Office Space$26.89
- Columbus Class B Office Space$20.06
- Columbus Class C Office Space$17.38
- Ohio Class A & A+ Office Space$23.86
- Ohio Class B Office Space$18.35
- Ohio Class C Office Space$16.46
Columbus, OH Office Asking Rents by Class
Average office rent in Columbus rested at $21.88 per square foot in 2022. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Columbus averaged $26.89 per square foot. Across all submarkets, class B office space recorded an average asking rent of $20.06 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $17.38 per square foot, on average. Comparably, statewide Ohio average office rents by class in 2022 were: $23.86 per square foot for class A office space; $18.35 per square foot for class B office space; $16.46 per square foot for class C office space.
2022 Office Vacancy Rates in Columbus
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Columbus - Short North | $32.85 | 1.87% |
Columbus - Northeast | $26.56 | 7.89% |
New Albany | $24.13 | 28.10% |
Columbus - Grandview | $22.92 | 13.97% |
Columbus - South | $22.44 | 23.06% |
Columbus - Westerville | $21.55 | 22.96% |
Columbus - Downtown | $21.38 | 11.34% |
Columbus - Northwest | $20.53 | 26.47% |
Columbus - East | $19.44 | 30.46% |
Columbus - Worthington | $18.78 | 24.01% |
Columbus - North Central | $17.67 | 9.31% |
Columbus - University | $17.57 | 13.68% |
Dublin | $17.04 | 21.00% |
Columbus Office Sale Price per SF
- $130.352022 Avg. Price per SF
- -3.63%Y-o-Y Avg. PpSF Change
- $222.2M2022 Office Sales Volume
- 182022 Number of Transactions
Columbus, OH Sale Price per SF Trend
- Columbus Avg. Sale Price per SF in 2022$130.35
- Ohio Avg. Sale Price per SF in 2022$84.29
2022 Office Sales Volume
- Columbus, OH Total Office Sales Volume in 2022 $222.2M
- Columbus, OH Total Number of Office Sales Closed in 2022 18
Largest Columbus Office Sales in 2022
Property name | Address | Date | Price |
---|---|---|---|
911 John Street | 911 John Street | 11/4/2022 | $118,000,000 |
4 Easton Oval | 4 Easton Oval | 6/15/2022 | $13,335,000 |
Bicentennial Plaza | 250 Civic Center Drive | 3/14/2022 | $12,850,000 |
88 East Broad Street | 88 East Broad Street | 1/26/2022 | $12,025,000 |
1480 West Lane Avenue | 1480 West Lane Avenue | 2/17/2022 | $7,600,000 |
Coworking Spaces in Ohio
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2022 Office Construction in Columbus, OH
- Columbus, OH Total SF completed in 2022 678,773
- Columbus, OH Total SF under construction in 2023 1,179,261
During 2022, 678,773 square feet of new office space were delivered across the market. At the close of 2022, the Columbus office inventory included 4 buildings equal to or larger than 25,000 square feet, which comprised 678,773 square feet of office space. Looking forward, development activity throughout 2023 is estimated to add 1,179,261 square feet of office space to the market, before year-end.
Office building | Address | SF | Completed |
---|---|---|---|
Arlington Gateway - Office | 1325-1397 West Lane Avenue, 43221 | 137,920 | 2023 |
The Peninsula Office | 330 Rush Alley, 43215 | 231,000 | 2022 |
Worthington Gateway | 121 W Wilson Bridge Rd, 43085 | 51,654 | 2022 |
6351 E Broad Street | 6351 E Broad Street, 43213 | 6,208 | 2022 |
The Reach-535 Reach | 535 Reach Boulevard, 43215 | 66,243 | 2020 |
The Budd Dairy Food Hall - Office | 1086 North 4th Street, 43201 | 50,000 | 2020 |
610 Taylor Station Rd | 610 Taylor Station Rd, 43230 | 6,132 | 2019 |
985 High | 985 North High Street, 43201 | 198,298 | 2017 |
3075 Loyalty Circle | 3075 Loyalty Circle, 43219 | 241,493 | 2016 |
Audubon Park Office Center | 371 Maier Place, 43215 | 172,500 | 2016 |
Worth noting among recent office completions on the Columbus market is Arlington Gateway - Office, which is currently the largest new office development in the city, at 137,920 square feet.
See reports for other markets
- Cincinnati Office Rent Price
- Cleveland Office Rent Price
- Dayton Office Rent Price
- Akron Office Rent Price
- Dublin Office Rent Price
- Blue Ash Office Rent Price
- Westerville Office Rent Price
- Miami Office Rent Price
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- Denver Office Rent Price
- Dallas Office Rent Price
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- Los Angeles Office Rent Price
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2022 through December 31st 2022. Construction pipeline data represented herein is valid as of April 2023. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Columbus commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.