Last Updated on October 31, 2025 by Joseph Williams
I was standing on the roof of a fourstory building in the Short North last spring, the wind whipping my tie around, while the developer pointed toward the empty lot where the new cityapproved mixeduse project was supposed to break ground. “The city’s asking for another traffic impact study,” he said, shaking his head as a COTA bus rumbled past below. “Says it’ll add six months.” That’s the Columbus commercial real estate market for you—incredible momentum constantly butting up against the practical realities of a city playing catchup with its own growth.
After nearly a decade in this business here, I’ve watched Columbus transform from a quiet state capital into a genuine Midwestern powerhouse. Honestly, the energy is palpable, but it creates this unique set of challenges and opportunities that you just don’t see in more mature markets. The demand for quality commercial space, from industrial warehouses on the west side to boutique office setups in the German Village, is outstripping supply in a way I’ve never witnessed. And that creates a fascinating landscape for investors and business owners alike.
The Lay of the Land: What’s Driving Columbus Commercial Real Estate
To understand where the opportunities are, you have to grasp what’s fueling this engine. It’s not just one thing—it’s a perfect storm of corporate migration, demographic shifts, and frankly, good oldfashioned geographic luck. We’re right in the sweet spot for logistics, sitting within a day’s drive of nearly half the U.S. population. But it’s more than that.
You know what’s funny? When I started, the big buzz was always about the Intel project coming to New Albany. Now that it’s here, the ripple effects are already being felt in the commercial market, especially up in the northeast corridor. We’re seeing ancillary businesses scrambling for space, driving up lease rates for industrial and flex properties in areas we used to consider secondary markets. It’s creating a kind of gold rush mentality, but the savvy investors are looking at the supporting infrastructure—where will all these new workers live, eat, and shop?
The Industrial & Logistics Boom
This is, without a doubt, the hottest segment of our market. The Rickenbacker Airport area and the I71 corridor have become absolute magnets for distribution centers. I was working with a client last fall—a midsized ecommerce company from Chicago—and they needed 50,000 square feet of warehouse space with easy highway access. We looked at seven properties, and four of them had multiple offers within days of listing. The competition is fierce.
The secret most outoftown investors don’t realize? It’s not just about the big, shiny new buildings. Some of the best opportunities right now are in the older, functionally obsolete industrial spaces in neighborhoods like the Hilltop or along Joyce Avenue. These properties often fly under the radar, but with the right renovation—and a little patience with the Columbus Building Standards Division—they can be converted into lastmile delivery hubs that command premium rents. The ceiling heights might be lower and the truck courts tighter, but their locations are unbeatable for serving the dense urban core and innerring suburbs.
Office Space in a PostPandemic World
This is where things get really interesting. The central business district downtown has seen some volatility, that’s no secret. But the narrative of the “dead office market” is just wrong for Columbus. What’s happening is a transformation. Tenants aren’t giving up on office space; they’re just demanding something completely different.
We recently helped a tech firm relocate from a generic highrise to a converted historic building in the Arena District. They downsized their square footage by thirty percent but increased their collaboration space dramatically. They wanted character, amenities within walking distance, and a layout that would actually entice employees to leave their home offices. And they’re not alone. ClassB and creative office spaces in vibrant neighborhoods are leasing much faster than their ClassA counterparts in sterile towers. It’s a qualityoverquantity shift.
The challenge, of course, is that Columbus winters can be a bear. I’ve had more than one client call me in a panic because their pipes froze in a building they were renovating in Italian Village. The older brick construction here is beautiful, but it needs serious attention to mechanical systems. You can’t just assume the HVAC will handle a polar vortex. That’s a local reality you learn the hard way.
Neighborhood Deep Dives: Where the Action Is
Columbus isn’t a monolith. The opportunities vary wildly depending on which corner of the city you’re looking at.
The Short North & Arena District
These are the established gems, the places with the highest foot traffic and the most vibrant energy. Retail and restaurant spaces here are gold, but they’re also the most expensive and hardest to come by. Vacancies are rare and get snapped up immediately. The real play here, in my opinion, is in mixeduse. A building with groundfloor retail and upperfloor office or boutique residential? That’s the trifecta. But be prepared for a more complex approval process with the City of Columbus. They’re very careful about preserving the character of these neighborhoods.
Franklinton (“The Bottoms”)
If you want to see a neighborhood in the midst of a total transformation, spend an afternoon in Franklinton. A decade ago, this was a completely different story. Now, with the arrival of studios, galleries, and tech startups, it’s the city’s most exciting frontier for creative commercial uses. I’ve seen property values here double in five years. The flood plain issues are being addressed with new infrastructure, which is a gamechanger. It still feels a bit like the wild west, but the potential for ROI is significant if you get in before it’s fully polished.
The I270 Corridor & Suburban Hubs
Don’t sleep on the suburbs. Dublin, with its focus on tech and corporate HQs, has a robust office market. Hilliard and Grove City are seeing massive growth in light industrial and medical office space, serving the growing residential populations there. The traffic patterns are a consideration—I270 can be a parking lot during rush hour—but the access to a skilled workforce is a major draw for companies.
The Local Reality: Costs, Challenges, and How to Navigate Them
So, what does all this actually cost? It’s the question everyone asks. Honestly, it’s all over the map, but to give you a frame of reference, prime industrial space in a toptier logistics park can run you $6.50 to $8.00 per square foot, triple net. That’s up nearly fifteen percent from just two years ago. A ClassB office space in a decent location might be in the low $20s per square foot, fullservice. But the numbers only tell part of the story.
The bigger challenge, sometimes, is the speed of the market. Properties are trading hands so quickly that the traditional due diligence period has become a luxury. I’ve seen allcash offers with quick closes beat out higher offers that need financing. You have to have your financing lined up and your team—a good commercial broker, a real estate attorney who knows the Franklin County recorder’s office, and a sharp inspector—ready to move at a moment’s notice.
And then there’s the city itself. The Columbus Building and Zoning Services Department is… thorough. They’ve gotten better, but you still need to factor in time for permit reviews, especially for any kind of renovation or change of use. I made the mistake early in my career of promising a client a 90day turnaround on a tenant fitout in a building near the Ohio State campus. The permit alone took sixty days. That one still stings. The truth is, you should always pad your timeline by at least twentyfive percent for anything that needs city approval.
Local Providers and Resources
Based on actual local presence, here are some established providers in Columbus:
Site Strategies — Serves the entire Columbus metro area, great for site selection and industrial.
Vector Commercial Real Estate — Strong in retail and office leasing throughout central Ohio.
Pizzuti Solutions — A longtime player in Columbus with a focus on industrial and office development.
Vantage Commercial Group — Handles investment sales and tenant representation across the region.
For navigating the regulatory landscape, always verify information through the City of Columbus Building and Zoning Services website directly. For statelevel commercial real estate regulations, the Ohio Division of Real Estate & Professional Licensing is your resource.
Frequently Asked Questions (From Local Clients)
Is now a good time to invest in Columbus commercial real estate?
It’s a time for strategic investing. The days of buying anything and watching it appreciate are over. But for welllocated properties in growing sectors like lastmile logistics or renovated office space in trendy neighborhoods, the fundamentals are still very strong. It’s about picking your spot carefully.
What’s the biggest mistake you see new investors make here?
Underestimating the carrying costs during renovation. Property taxes, insurance, and utilities on a vacant building add up fast, and construction delays with the city are common. It can eat your profit margin before you even open for business.
Which neighborhood is the next Franklinton?
Keep an eye on Linden. It’s got the bones, the affordability, and it’s starting to see some strategic public and private investment. It’s a longterm play, for sure, but the signs are there for those who know what to look for.
How important is it to work with a local broker?
Critical. The market moves on relationships and offmarket deals you’ll never see on a national listing service. A connected local broker knows which developers are looking to unload a parcel or which business owner is thinking about retiring. That insider knowledge is everything.
So, if you’re looking at Columbus, my advice is to come see it for yourself. Drive through the Short North on a busy Saturday. Talk to contractors who are busy trying to keep up with demand. Feel the energy and the growing pains for yourself. It’s a city that’s wide open, but you’ve got to understand its rhythm. And maybe avoid promising any client a 90day turnaround.