Office Space In Columbus

Find Office Space In Columbus For Rent:

With a 14.57% vacancy rate, and at an average cost of $18.59 per square foot to rent office space in Columbus - in its Central Business District, there is almost no new construction underway in the area. With less than 26,000 square feet expected to become available as a result of current projects, many businesses are leasing up the best deal they can in Columbus Ohio. The main emphasis of the Columbus city government is to make existing properties more attractive, through both the revitalization of the buildings and the addition of many amenities, such as parking garages, landscaping, admin suppport, furnished options (like executive suites) and increased residential areas - all of which can help the local commercial real estate industry balance itself out. We also have good rates on office spaces in available in Cincinnati and Cleveland.

Commercial Development and Columbus Economy:

Among the projects currently underway is Columbus Commons. This multi-acre park is situated on the site of the former City Center, which was demolished to make way for it. One-third of the area is being reserved for future development as the market demands, and the balance is being landscaped to provide a “green” area in the heart of the city. The park is scheduled to open in 2011. There are also plans to connect downtown Columbus, OH to the Scioto River by means of a winding park named the Scioto Mile. All of this new development will help steady the office space lease and rental market in Columbus. This will offer free Wi-Fi, benches, fountains, picnic tables, and include the renovation of Bicentennial Park, which will add a stage and restaurant to the area. Other options to consider are monthly lease options, serviced units, and larger business park listings. Also underway is the construction of a 500 room hotel adjacent to the Convention Center. A $160 million dollar investment, it is expected to open in 2012 under the Hilton flag while a 900 car parking garage is also being constructed next to it. You can find more commercial news on many other cities here.

Columbus Population, Stats, and Commercial News:

Columbus, the capital of Ohio and the largest city in the state, has a current population of approximately 755,000, an increase of around 6% since 2000. The population is young, with an average age of 30.6. The city is one of the major centers for insurance, with over 70 companies represented, but state and local government are still the major providers of jobs in the area. The current unemployment rate for Columbus is 8.2%, as compared to the Ohio state average of 10.4. Even with all these numbers, the prices of Columbus office spaces is still not cheap in 2009. The city has a low cost of living (82.1% of national average) but a relatively high crime rate (668 versus a national rate of 320). Job loss rates are lower than most cities in Ohio (1.2%), and the city is one of a handful in which private sector jobs are increasing faster than government positions.

With its rich history, Columbus offers many attractions to residents and visitors. One of the most interesting spots is the German Village, located several blocks south of the Capitol. Covering more than 200 acres, it has been restored and has local area features like beer gardens, restaurant and bakeries, and homes and residents. The Columbus Zoo, which opened in 1927, is famous for its successful breeding programs. In 2004, voters passed a ten year, $180 million expansion project. Plans include the construction of a hotel next to the zoo. The city of Columbus also boasts three restored theaters that serve the entertainment scene. The Palace Theater, which originally opened in 1926, now houses the city’s opera company, while the Ohio Theater is home to the symphony and the ballet. The Southern Theater after being closed for two decades, reopened after a $10 million renovation.