Industrial Investment in Columbus
Columbus industrial just had its moment. Intel's $20B fab announcement turned this into a semiconductor supply chain play overnight. We're seeing warehouse deals that wouldn't have existed three years ago. Class A distribution space in the right corridors is trading at sub-6% caps. The usual suspects are still here - Honda's supply chain, DSW's distribution, Amazon's last-mile push. But now you've got chip manufacturers scouting sites within 50 miles of New Albany. Vacancy's sitting around 3.2% market-wide, which means if you've got modern space with 32-foot clears and decent truck courts, you're not sitting long. The question isn't whether to buy industrial here. It's whether you can still find deals that pencil.
Market Context
Cap Rate Range
5.8% to 7.4% depending on location and vintage, with Intel-adjacent sites compressing toward the low end
Current Vacancy
3.2% market-wide, down from 4.1% pre-Intel announcement, with sub-2% in prime logistics corridors
Rent Trend
Up 18% since 2024, moderating but still climbing at 6-8% annually in target submarkets
Absorption
2.8M SF absorbed in trailing twelve months, 40% above historical average
Price Per Unit Trend
$85-$140 per SF for quality space, with semiconductor-spec buildings commanding premiums
Transaction Volume
$890M in trailing twelve months, up 65% from 2024 levels
Submarket Analysis
I-270 West (Intel Corridor)
5.8% to 6.4% capVacancy
1.8%
Avg Rent (1BR)
$9.50-$12.75/SF NNN
Hottest submarket. New construction delivering at $11+ NNN. Existing owners aren't selling unless forced.
OM Tip
Emphasize proximity to Intel fab site, power capacity specs, and any clean room potential
I-70 East Corridor
6.2% to 7.0% capVacancy
2.9%
Avg Rent (1BR)
$7.25-$9.80/SF NNN
Steady logistics demand, Honda supply chain anchor. Less frothy than Intel corridor but solid fundamentals.
OM Tip
Highlight truck access to I-70/I-270 interchange and established automotive tenant base
Southeast (Rickenbacker)
6.0% to 6.8% capVacancy
2.1%
Avg Rent (1BR)
$8.50-$11.25/SF NNN
Airport cargo hub driving demand. E-commerce and third-party logistics expanding. Limited available land constraining supply.
OM Tip
Play up airport proximity and cargo handling capabilities. Include any customs bonded space details.
I-71 South
6.8% to 7.4% capVacancy
4.2%
Avg Rent (1BR)
$6.75-$8.90/SF NNN
More price-sensitive but stable. Good for value-add plays and smaller distribution users.
OM Tip
Focus on below-market rents and upside potential through capital improvements
Northwest Flex
6.5% to 7.2% capVacancy
3.8%
Avg Rent (1BR)
$8.20-$10.50/SF NNN
Mixed-use industrial, some office component. Benefits from Dublin corporate presence and OSU research spillover.
OM Tip
Highlight flex capabilities and professional workforce access for R&D users
Performance by Vintage
0
P
1
r
2
e
3
-
4
1
5
9
6
9
7
0
8
s
9
10
b
11
u
12
i
13
l
14
d
15
i
16
n
17
g
18
s
19
20
w
21
i
22
t
23
h
24
25
s
26
u
27
b
28
-
29
2
30
4
31
-
32
f
33
o
34
o
35
t
36
37
c
38
l
39
e
40
a
41
r
42
s
43
44
a
45
r
46
e
47
48
s
49
t
50
r
51
u
52
g
53
g
54
l
55
i
56
n
57
g
58
59
u
60
n
61
l
62
e
63
s
64
s
65
66
t
67
h
68
e
69
y
70
'
71
v
72
e
73
74
g
75
o
76
t
77
78
k
79
i
80
l
81
l
82
e
83
r
84
85
l
86
o
87
c
88
a
89
t
90
i
91
o
92
n
93
94
o
95
r
96
97
u
98
n
99
i
100
q
101
u
102
e
103
104
f
105
e
106
a
107
t
108
u
109
r
110
e
111
s
112
.
113
114
1
115
9
116
9
117
0
118
s
119
-
120
2
121
0
122
0
123
0
124
s
125
126
s
127
t
128
o
129
c
130
k
131
132
p
133
e
134
r
135
f
136
o
137
r
138
m
139
s
140
141
i
142
f
143
144
i
145
t
146
'
147
s
148
149
b
150
e
151
e
152
n
153
154
m
155
a
156
i
157
n
158
t
159
a
160
i
161
n
162
e
163
d
164
165
a
166
n
167
d
168
169
h
170
a
171
s
172
173
a
174
d
175
e
176
q
177
u
178
a
179
t
180
e
181
182
p
183
a
184
r
185
k
186
i
187
n
188
g
189
190
r
191
a
192
t
193
i
194
o
195
s
196
.
197
198
2
199
0
200
1
201
0
202
s
203
+
204
205
c
206
o
207
n
208
s
209
t
210
r
211
u
212
c
213
t
214
i
215
o
216
n
217
218
w
219
i
220
t
221
h
222
223
3
224
2
225
+
226
227
f
228
o
229
o
230
t
231
232
c
233
l
234
e
235
a
236
r
237
s
238
239
a
240
n
241
d
242
243
m
244
o
245
d
246
e
247
r
248
n
249
250
d
251
o
252
c
253
k
254
255
c
256
o
257
n
258
f
259
i
260
g
261
u
262
r
263
a
264
t
265
i
266
o
267
n
268
s
269
270
i
271
s
272
273
t
274
r
275
a
276
d
277
i
278
n
279
g
280
281
a
282
t
283
284
p
285
r
286
e
287
m
288
i
289
u
290
m
291
292
m
293
u
294
l
295
t
296
i
297
p
298
l
299
e
300
s
301
.
302
303
N
304
e
305
w
306
307
d
308
e
309
l
310
i
311
v
312
e
313
r
314
i
315
e
316
s
317
318
s
319
p
320
e
321
c
322
'
323
d
324
325
f
326
o
327
r
328
329
s
330
e
331
m
332
i
333
c
334
o
335
n
336
d
337
u
338
c
339
t
340
o
341
r
342
343
s
344
u
345
p
346
p
347
l
348
y
349
350
c
351
h
352
a
353
i
354
n
355
356
a
357
r
358
e
359
360
s
361
e
362
e
363
i
364
n
365
g
366
367
i
368
m
369
m
370
e
371
d
372
i
373
a
374
t
375
e
376
377
l
378
e
379
a
380
s
381
e
382
-
383
u
384
p
385
386
d
387
e
388
s
389
p
390
i
391
t
392
e
393
394
h
395
i
396
g
397
h
398
e
399
r
400
401
a
402
s
403
k
404
i
405
n
406
g
407
408
r
409
e
410
n
411
t
412
s
413
.
What Your OM Needs to Address
Clear Height Specifications
Buyers are obsessing over this metric. Sub-28 feet needs a story. 32+ feet is table stakes for institutional deals.
Data to Include
Exact clear heights by section, any expansion capability, and racking weight limits
Power Infrastructure
Intel effect means everyone's asking about electrical capacity. Even if your tenant doesn't need it, the next buyer might.
Data to Include
Current electrical service size, transformer capacity, any three-phase availability, expansion potential
Truck Court Specifications
Columbus buyers know bad truck courts kill deals. Don't make them guess about turning radii or trailer storage.
Data to Include
Court depth measurements, turning radius specs, trailer parking count, dock door-to-dock door spacing
Transportation Access Analysis
Intel corridor has everyone thinking about drive times to major interchanges. Map it out for them.
Data to Include
Drive times to I-270, I-70, I-71 interchanges during peak hours, plus Rickenbacker airport access
Expansion Rights and Adjacent Land
Growth stories sell better in tight markets. Show them the expansion path even if they say they don't need it.
Data to Include
Adjacent parcel availability, expansion rights in lease, zoning for surrounding parcels
Tenant Quality and Lease Structure
Industrial investors want to see lease terms, renewal probability, and tenant creditworthiness upfront.
Data to Include
Tenant financial statements, lease expiration schedule, renewal option terms, rent escalation clauses
Investment Outlook
Short Term
Supply constraints continue through 2027. New construction can't keep pace with Intel-driven demand. Cap rate compression likely continues in prime corridors, though pace moderates. Rent growth stays elevated but may cool from current levels. Best opportunities are off-market deals and value-add plays in secondary corridors.
Medium Term
Intel fab ramps production 2028-2029, bringing full supply chain demand online. Secondary semiconductor manufacturers likely announce Columbus area projects. Transportation infrastructure upgrades begin affecting submarket dynamics. Some cap rate stabilization expected as new supply finally hits market, but vacancy stays low through this cycle.
Long Term
Columbus establishes itself as Midwest semiconductor hub. Industrial market matures with multiple large users and established supply chains. Geographic expansion of hot submarkets as prime corridors fill out. Potential for specialized facility types like clean manufacturing and advanced materials handling. Market likely maintains premium to regional competitors long-term.
Buyer Profile
Institutional investors dominating $15M+ deals in prime corridors. Private equity groups active in value-add opportunities. Local high-net-worth investors still competitive in sub-$10M range. Semiconductor supply chain companies increasingly looking to own rather than lease critical facilities. International investors starting to notice Columbus industrial story.
Marketing a industrial property in Columbus?
DealDraft generates professional offering memorandums with market-specific data and property-type expertise built in.
Create Your OM