COLUMBUS—The latest national jobs report generated headlines that the US unemployment rate has sunk below 6.0%, but Central Ohio has done even better, and vacancies in its industrial properties have also hit historic lows. According to Cassidy Turley, a commercial real estate provider in the US, the Columbus and Central Ohio industrial real estate market absorbed 1.7-million-square-feet in the third quarter. Furthermore, inventory in the industrial sector grew by 1.6-million-square-feet. Developers have another 2.5-million-square-feet of product under construction, and will deliver 1.6-million-square-feet before the end of the year.

“As the economy improves, the industrial market will only gain more momentum as it continues producing record-breaking low vacancy rates and adding much needed speculative space,” says Robin Mitchell, research analyst for Cassidy Turley’s Columbus office.

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