A report from Grubb & Ellis/Adena Commercial shows that Columbus-area retail projects are demonstrating some signs of life.

During the fourth quarter of 2009, the Columbus retail market showed net absorption of 279,204 square feet of occupied retail space, compared to the third quarter’s net absorption of negative 40,275 square feet.

According to the report, more than 727,000 square feet of retail space currently is under construction and expected to be completed in 2010 and 2011. Also noted in the report is that rental rates will continue to decline across all trade areas “to entice retailer expansion, both large and small, to vacant locations and struggling retail centers.”

The office space market, however, remains soft in the Columbus area.

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5 Comments on Columbus Commercial Real Estate Market Limps Through 2009

FEB
04
2010
731,093 Points 15 Featured Posts Outside Blog Called Shot Master

Joe, it seems like we are all in a similar situation. Here hoping for a better 2010.
9:10am • #1
865,150 Points 5 Featured Posts Hit Router Called Shot Master

Michael

 

I hope you are wrong, but I think you are right
9:31am • #2
1 Featured Post

Thanks for the info Joe. I hope it doesn't affect rent too much as the other rentals are going to suffer. But I guess like history teaches it will all come back at some point.
11:19am • #3
3 Featured Posts Attended Rain Camp

Lots of commercial foreclosures here in AZ. Our bulk sales contacts at the big banks have advised that there may be opportunities for sales of pocket listings....
2:16pm • #4
865,150 Points 5 Featured Posts Hit Router Called Shot Master

Any economic down turn brings many opportunities
2:24pm • #5


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Joe Jackson

Columbus, OH

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Keller Williams Capital Partners Realty

Address: 100 E Wilson Bridge Rd , suite 100, Worthington, OH, 43085

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