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Q3 2021 Retail Market Report | Columbus Metro

September 20, 2021 by Marcus & Millichap Research Services

Regional Standout for Retail Performance, Columbus Attracts More Out-of-State Investors

  • Diverse hiring bolsters household count and local spending. Backed by a local economy that has recaptured 80 percent of the jobs lost during the initial months of the health crisis, Columbus’
    retail sector continues to enjoy the lowest vacancy rate among Midwest markets.
  • Major retail demand drivers re-established. Businesses surrounding Ohio State University, the metro’s largest employer, are poised to receive a jolt in sales this fall as students and staff
    return to campus.

Investment Highlights

  • Since the fourth quarter of 2020, sales velocity has returned to a pre-pandemic pace, supporting a 45 percent rise in deal flow over the past year ended in June.
  • Across both retail segments, Columbus offered buyers some of the highest first-year returns nationally over the past 12 months.
  • Shopping center trades accounted for one-fourth of recent deal flow.
  • Investors with experience owning multiple property types are pursuing mixed-use buildings throughout the city of Columbus, where 8 percent-plus cap rates are available.

* Forecast; ** Through 2Q
Sources: CoStar Group, Inc.; Real Capital Analytics

Download the Full Report Here

The information contained in this report was obtained from sources deemed to be reliable. Every effort was made to obtain accurate and complete information; however, no representation, warranty or guarantee, express or implied, may be made as to the accuracy or reliability of the information contained herein. Note: Metro-level employment growth is calculated based on the last month of the quarter/year. Sales data includes transactions sold for $1 million or greater unless otherwise noted. This is not intended to be a forecast of future events and this is not a guaranty regarding a future event. This is not intended to provide specific investment advice and should not be considered as investment advice. Sources: Marcus & Millichap Research Services; Bureau of Labor Statistics; CoStar Group, Inc.; Real Capital Analytics © Marcus & Millichap 2021 | www.MarcusMillichap.com

Filed Under: Research Brief, Market Report

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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