Cal Axe | Colliers International | Columbus

Cal Axe

CPRC

Brokerage Associate

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About

Professional Summary

As a Brokerage Associate at Colliers International, Cal specializes in commercial office leasing, sales, and occupier services in the greater Columbus area. Before his career in brokerage, he joined Colliers as a research analyst: a position that requires extensive knowledge of the Columbus office market, and an understanding of lease calculations. While in research, Cal received his Commercial Property Research Designation (CPRC) and his Ohio Real Estate Sales License. He is known for working closely with clients to help identify creative office space solutions. Cal’s analytic skills, market proficiency, and hustle has helped Columbus companies and organizations reduce rent and accelerate business growth. 

Cal attended Ohio Wesleyan University, where he studied International Business. He spent a semester abroad studying at the IES Paris Business and International Affairs program in Paris, France. While at OWU, Cal was a member of the Battling Bishop golf team and served as Captain. 

Education

Ohio Wesleyan University Bachelor of Arts International Business

Memberships & Involvements

Commercial Real Estate Certification (CPRC)
Ohio Real Estate Sales License
Columbus Board of Realtors Ohio Board of Realtors NAIOP - Developing Leader  

Services

Service Lines
Landlord Representation, Tenant Representation
Property Type
Office
Featured Research
Sep 30, 2020
2020 Q3 Office Trends Columbus Colliers
The Columbus office market started to feel the effects of the ongoing COVID-19 pandemic, recording negative net absorption of 664,924 square feet in the third quarter. Nearly 500,000 square feet of this can be attributed to sublease vacancy that has come on the market, compared to direct vacant space which has not significantly risen this year. This added sublease space also caused the overall vacancy rate to rise to 10.58 percent. Despite sublease vacancy increasing, direct vacancy remains stable, rising only by a quarter percentage to 9.37 percent this quarter. Overall asking rates remained steady at $19.18 per square foot, with Class A rates slightly decreasing to $21.29 per square foot. In order to compete with the large amount of sublease space, landlords are expected to slightly decrease asking rates which will consequently drive overall rates down in coming quarters. On a positive note, this quarter marks the highest construction activity since 2017, with 1,445,608 square feet of development underway. Additionally, the number of users looking for office space increased from 98 to 113 tenants in recent months, indicating an increase in tenant demand for space. As the office sector adapts to a post-COVID-19 world, Columbus can anticipate a slow recovery moving forward.
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Jun 30, 2020
2020 Q2 Office Trends Columbus Colliers
Despite uncertainty regarding the COVID-19 pandemic, the Columbus office market had a strong second quarter, posting 39,011 square feet of net absorption. In eight of the past nine quarters, the region has experienced positive absorption - a true testament to the sustained strength of the office sector. New development and high demand drove activity in the Easton submarket, which recorded 33,546 square feet of absorption this quarter. Although absorption was positive, vacancy increased this quarter to 9.28%, as over 200,000 square feet of completed speculative development was added to the market. The first two phases of the expansion at Easton and the office building at 950 Goodale Blvd. were finalized, providing new spaces for M/I Homes, VanTrust and Carlile Patchen & Murphy. This new first-class space also caused overall asking rates and Class A rates to increase, to $19.12 per square foot and $21.51 per square foot, respectively. In coming months, Columbus can anticipate leasing activity to slowly increase and sublease availability to quickly rise as the country works to recover from the effects of COVID-19.
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Mar 31, 2020
2020 Q1 Office Trends Report Columbus Colliers
The Columbus office market started off the year with slightly negative net absorption of 23,110 square feet. However, the market recorded positive absorption in seven of the past eight quarters, demonstrating the overall strength of the office sector. Ongoing investment, development and leasing activity drove positive absorption of 55,094 square feet in the CBD - the highest of any submarket this quarter. Despite overall vacancy increasing to 9.07 percent, the rate is over 40 basis points lower than in the first quarter of last year. Overall asking rates also experienced positive growth, rising to $18.84 per square foot. Rates for Class A and B properties both increased, to $20.99 per square foot and $17.83 per square foot, respectively. Three large-scale construction projects totaling 421,250 square feet broke ground this quarter, including the mixed-use Grandview Crossing development, the second phase of Gravity in Franklinton and the expansion of the Arena District, which will be home to Chipotle’s Columbus headquarters.
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