Credit Isues Expected to Slow Retail Deal Flow in Columbus, OH

COLUMBUS, OH--Ongoing economic woes are forecast to soften retail fundamentals in Columbus this year, but the metro remains the strongest in the state and is positioned for long-term health, according to a second-quarter Retail Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.

While many Midwestern market are suffering through employment losses and out-migration, the Columbus metro continues to add positions and record steady population growth.

“Out-of-state buyers remain active in Columbus, lured by higher cap rates than those in coastal markets and a healthy long-term economic outlook,” says John Reehil, a retail investment specialist in the Columbus office of Marcus & Millichap.

Following are some of the most significant aspects of the Columbus Retail Research Report:

· Employers are projected to add 1,000 jobs for a payroll expansion of 0.1 percent.
· Builders are on pace to add approximately 1.2 million square feet on new space by year end.
· Vacancy is forecast to end the year at 11.8 percent.
· Asking rents are expected to gain 0.6 percent to $12.71 per square foot by year end.
· Effective rents are anticipated to finish the year at $10.98 per square foot.

For a copy of the complete Columbus Retail Research Report, as well as reports on other markets nationwide, visit our website at http://www.marcusmillichap.com/.
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