COLUMBUS (April 12, 2022) – Savills completed five lease transactions during the end of 2021 and the beginning of the year, totaling nearly 55,000 square feet. Senior Vice President Darin Manning assisted five companies in multiyear lease agreements. The transactions include the following:

• AIPSO: The insurance firm is acquiring a division of Progressive Insurance and will open an 18,000-square-foot office at 5875 Landerbrook Drive in Mayfield Heights near Cleveland.

• DLR Group: The global architecture and engineering firm will open a 4,635-square-foot office at 250 West Street in the Arena District of Columbus.

• Epstein Becker & Green PC: The law firm will open a 13,351-square-foot office on a half-floor at 250 West Street in the Arena District in Columbus for its first local location.

• Fishbeck: The professional consulting firm will relocate to a 14,826-square-foot partial floor at 10856 Reed Hartman Highway in Blue Ash near Cincinnati, increasing its previous footprint by 40%.

• Kiewit: The engineering and construction firm will occupy a 3,748-square-foot space, with expansion rights, at 7400 West Campus Oval in New Albany.

“Despite a relatively quick recovery in the Columbus office market, tenants have wasted no time unloading space through subleasing, downsizing, or not renewing their current leases due to many companies adopting remote or hybrid policies,” said Manning.

He added, "However, industries are expanding operations, including the legal, architecture, engineering and construction sectors. The overall vacancy rate is around 18% in downtown Columbus, resulting from high availability due to sizable single tenant spaces. Additionally, Columbus is experiencing a surge in activity in the downtown and surrounding office markets. Still, as of the first quarter of 2022, tenants are not as active in the traditional suburban office markets where activity typically occurs."