In Columbus, the industrial real estate market continues to suffer from the impact of the recession.  It could be mid-2010 before the vacancy rates start to improve.

According to a report by real estate service firm Colliers International, the bulk market, which includes properties of 100,000 square feet or more, had a dismal third quarter.

The year-to-date total was brought into the negative numbers when nearly 815,000 square feet of space became vacant during the quarter.

Colliers' Columbus office does not see any real positive signs as we approach the end of the year and at best it might be mid next year before any improvement is seen.  Not only are there few deals being completed to lower vacancy rates, there are not even many inquiries.  Right now things are very, very quiet.

The vacancy rate for the overall market decreased from 11.36 % to 11.22 % in the third quarter.  Areas surrounding Franklin County continue to post the lowest vacancy rate at 5.50 % while the southeast submarket still has the highest rate at 21.78%