2021 Office Space Rent & Sales
- $20.38 2021 Avg. Asking Rent
- 3.64% Y-o-Y Avg. Asking Rent Change
- 13.26% 2021 Office Vacancy Rate
- $416.2M2021 Total Office Sales
- $135.26Avg. Sale Price/SF
Columbus office price per square foot in 2021 was $20.38 on average. This marked a +3.64% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 13.26% across all asset classes combined. The 28 transactions that closed here throughout 2021 amounted to a total sale volume of $416.2M. Columbus office space commanded an average sale price per square foot of $135.26.
Average Rent by Office Class
2021 Average Office Rent per Square Foot
- Columbus Class A & A+ Office Space$24.07
- Columbus Class B Office Space$18.88
- Columbus Class C Office Space$16.60
- Ohio Class A & A+ Office Space$22.65
- Ohio Class B Office Space$17.64
- Ohio Class C Office Space$15.26
Columbus, OH Office Asking Rents by Class
Average office rent in Columbus rested at $20.38 per square foot in 2021. 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 $24.07 per square foot. Across all submarkets, class B office space recorded an average asking rent of $18.88 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $16.60 per square foot, on average. Comparably, statewide Ohio average office rents by class in 2021 were: $22.65 per square foot for class A office space; $17.64 per square foot for class B office space; $15.26 per square foot for class C office space.
2021 Office Vacancy Rates in Columbus
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Columbus - Short North | $28.72 | 7.96% |
Columbus - Northeast | $23.73 | 8.55% |
Columbus - Grandview | $23.55 | 12.95% |
Columbus - Downtown | $22.06 | 22.46% |
Columbus - Northwest | $21.46 | 6.94% |
Columbus - Westerville | $19.31 | 17.57% |
Columbus - East | $18.72 | 14.52% |
Columbus - Worthington | $17.11 | 24.40% |
Columbus Office Sale Price per SF
- $135.262021 Avg. Price per SF
- $416.2M2021 Office Sales Volume
- 282021 Number of Transactions
Columbus, OH Sale Price per SF Trend
- Columbus Avg. Sale Price per SF in 2021$135.26
- Ohio Avg. Sale Price per SF in 2021$100.53
2021 Office Sales Volume
- Columbus, OH Total Office Sales Volume in 2021 $416.2M
- Columbus, OH Total Number of Office Sales Closed in 2021 28
Largest Columbus Office Sales in 2021
Property name | Address | Date | Price |
---|---|---|---|
910 John Street | 910 John Street | 5/17/2021 | $240,000,000 |
111 North 4th Street | 111 North 4th Street | 5/28/2021 | $62,649,400 |
Alliance Data Systems Headquarters - 3100 Easton Square Place | 3100 Easton Square Place | 1/22/2021 | $18,600,000 |
Continental Centre | 150 East Gay Street | 1/26/2021 | $11,970,010 |
7575 Huntington Park Drive | 7575 Huntington Park Drive | 11/4/2021 | $10,500,000 |
Coworking Spaces in Ohio
- New York City Coworking Space
- Manhattan Coworking Space
- Chicago Coworking Space
- Brooklyn Coworking Space
- Philadelphia Coworking Space
- Indianapolis Coworking Space
- Nashville Coworking Space
- Columbus Coworking Space
- Cincinnati Coworking Space
- Pittsburgh Coworking Space
- Arlington Coworking Space
- Alexandria Coworking Space
- Detroit Coworking Space
- Memphis Coworking Space
- Cleveland Coworking Space
- Dublin Coworking Space
- Northwest Ohio Coworking Space
- Union Coworking Space
- West Chester Coworking Space
- Westerville Coworking Space
2021 Office Construction in Columbus, OH
- Columbus, OH Total SF completed in 2021 662,000
- Columbus, OH Total SF under construction in 2022 765,311
During 2021, 662,000 square feet of new office space were delivered across the market. At the close of 2021, the Columbus office inventory included 5 buildings equal to or larger than 25,000 square feet, which comprised 662,000 square feet of office space. Looking forward, development activity throughout 2022 is estimated to add 765,311 square feet of office space to the market, before year-end.
Office building | Address | SF | Completed |
---|---|---|---|
The Peninsula Office | 330 Rush Alley, 43215 | 231,000 | 2022 |
Worthington Gateway | 121 W Wilson Bridge Rd, 43085 | 51,654 | 2022 |
Southern Station | 827-871 Goodale Blvd, 43212 | 24,370 | 2022 |
Worthington Gateway | 89-105 N Wilson Bridge Road, 43085 | 24,229 | 2022 |
6351 E Broad Street | 6351 E Broad Street, 43213 | 6,208 | 2022 |
150 North 3rd Street | 150 North 3rd Street, 43215 | 113,373 | 2021 |
The Reach on Goodale | 535 Reach Boulevard, 43215 | 66,243 | 2020 |
The Budd Dairy Food Hall - Office | 1086 North 4th Street, 43201 | 50,000 | 2020 |
Offices at The Sutton | 873-875 High St. N, 43215 | 58,052 | 2019 |
Millennial Tower | Rich and Front, 43215 | 400,000 | 2018 |
Worth noting among recent office completions on the Columbus market is The Peninsula Office, which is currently the largest new office development in the city, at 231,000 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
- Chicago Office Rent Price
- San Antonio Office Rent Price
- San Francisco Office Rent Price
- Austin Office Rent Price
- San Diego Office Rent Price
- Washington Office Rent Price
- Dallas Office Rent Price
- Seattle Office Rent Price
- Charlotte 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 2021 through December 31st 2021. Construction pipeline data represented herein is valid as of April 2022. 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.