Columbus Commercial Real Estate - Retail vacancies fall

Columbus Commercial Real Estate – Retail vacancies fall

Posted November 25, 2013

In Columbus, Commercial, development, net lease, nnn, real estate, Retail

According to Central Ohio Information Exchange (COCIE), Columbus and Central Ohio retail vacancies are falling due to little new supply coming on line and much heavier leasing activity over the third quarter of 2013.

Over 200,000 square feet of space was absorbed this summer, but big box retail anchors have been slow to expand. Developers are reluctant to build without anchor tenants. The growth has been driven by smaller net leased niche retailers and fast casual restaurants. We’ve seen that up close with my clients who have been looking at Westerville, Worthington, Dublin and New Albany retail commercial properties.

Specialty groceries are one of the growth segments with Fresh Thyme Markets coming to Columbus with plans to open six markets in the Columbus area. Lucky’s is another health food, organic grower, fresh food grocery market that just opened their first location in Columbus in Clintonville.

Fast casual restaurant is another segment of the Columbus triple net retail market that’s expanding with Piada planning on 20 locations by the end of 2014. Fazoli’s is coming on market with Venti Tre in the Columbus net leased retail market.

At the link is the third quarter overview of the Columbus and Central Ohio retail commercial real estate market.

https://columbusrealtors.com/Uploads/Documents/COCIEStats/COCIE_RET3q13.pdf

Commercial Real Estate, Net Lease, NNN Property, Triple Net Retail

Commercial realtor

Commercial real estate with a focus on out-of-state investment property for my Southern California investors. My clients are Southern California local buyers looking for a return far better than what is available around here and that generally means out-of-state. We have expert property management, legal, and contracting services available.