Market Trends
- Vacancy has continued to climb through 2023, up 320 basis points (bps) from Q3 2022. Deliveries of speculative construction projects have aided the ascent with the Pickaway, Madison and Southeast submarkets all accounting for over 500,000 square feet of unleased speculative deliveries.
- Two deliveries exceeding 1.0 million square feet (msf) wrapped up in Q3 as ScottsMiracle-Gro’s built-to-suit facility in Union County and the speculative Building 1 at the Rickenbacker Exchange – North Campus in Pickaway completed.
- INEOS Enterprises, a global chemical manufacturer, is investing $24.5 million dollars in their North American headquarters relocation to Grandview Heights and new manufacturing facility at 6777 Crosby Court. The commitment is set to create 50 new jobs, retain 114 and consolidate INEOS’ North American operations.