Columbus is a NEXT market with the casting flipped since 2022. Intel was the hero on paper, but Mod 1 slipped to 2030–2031 and Mod 2 to 2032 — the 3,000 fab jobs that would drive multifamily absorption now arrive five years behind original schedule. The catalyst actually putting workers in housing in 2026 is Honda's $4.4B EV battery plant in Jeffersonville (~40 mi SW), now wholly Honda after the December 2025 $2.9B buyout of LG Energy Solution's stake.

Anduril Industries' Arsenal-1 hyperscale defense factory at Rickenbacker opened production March 2026 (three months ahead of schedule); the 4,000-job ramp is back-loaded but the first cohort lands now. Ohio State Wexner's $1.79B University Hospital tower opened February 22 2026, adding 820 private rooms of staffing demand to the medical corridor. Multi-catalyst geometry is dispersed — Licking NE / Fayette S / Pickaway S / urban core — so picks vary by commute geometry, not a single best location.

Cap Rate Signals tracks confirmed corporate investment about to move workers into a metro before real estate pricing has adjusted. Our model flags Columbus as NEXT — position before the wave. NEXT becomes NOW when Honda's EV battery 2,200-hire ramp crosses 50% (currently ~525) and Anduril's 4,000-job hiring begins materially ahead of the back-loaded schedule.