COLUMBUS, Ohio (COLUMBUS BUSINESS FIRST) -- For the fifth quarter in a row, industrial vacancy rates in Central Ohio is at an all-time low.
The first quarter's industrial vacancy rate was 1.6%, according to JLL Managing Director Brian Marsh. That's down from the fourth quarter of 2021's 2.1% vacancy rate.
That means securing space has gotten even harder, Marsh said. That speaks to the strength of demand in the area's industrial market, but also could pose problems relating to potentially missing opportunities moving forward.
"It’s good that there’s this much demand. The negative is we don’t have space available, at some point if there’s still demand that demand is going to go somewhere else," Marsh said. "You’re gonna miss deals because you just don’t have facilities for people and that‘s the negative part. The positive part is it’s very healthy for the market and developers."
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