Keeping up with CRE trends is as easy as 1-2-3 with our weekly piece! The Weekly Review is a new blog series that will be released every Friday. The market is constantly growing and adapting to new ventures and ideas, and our goal is to provide up-to-date information into what is happening in both the Columbus and U.S. markets, as well as the commercial real estate industry as a whole. As stories evolve, the Weekly Review will continue to follow along and update our clients and community.
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1
“The Central Ohio office market remains tough, but one suburb looks poised for a big year. Dublin leads in a continuing trend of leasing activity in the suburbs. In 2023, overall absorption across the market was negative, but it was positive in the suburbs. And in the first quarter of 2024, there were more suburban move-ins than move-outs, while downtown saw negative absorption, with more space vacated than filled.”
“Among those submarkets, Dublin stands out above the rest. Over the past 12 months, demand in Dublin increased. The recently released Colliers Foresight report predicts that a large portion of leases in 2024 will be in the Dublin submarket. According to the Foresight report, 19 new tenants moved to Dublin, 47 tenants moved within Dublin and one tenant moved out of the submarket last year.”
2
“Luxury beauty and personal care, handcrafted Western wear and a sustainably minded apparel brand are among the upcoming additions to Easton Town Center. The Columbus shopping, dining and entertainment destination announced four new retailers coming to the development this year. A new Chanel store was not in Wednesday’s announcement, but the luxury brand has a sign up at Easton touting a summer opening in Easton’s North District.”
“Easton also teased an expansion of the Diamond Cellar, but offered no additional details beyond added selection and an elevated customer experience. The Diamond Cellar itself has declined to talk about what it’s doing yet. Easton Town Center is celebrating its 25th anniversary. It is home to more than 250 retail, dining and entertainment destinations.”
3
“Honda's retooled Marysville Auto Plant will be able to produce both electric vehicles and vehicles powered by internal combustion engines, giving the automaker flexibility amid signs that demand for EVs is slowing. With construction of its battery plant near Jeffersonville on track to be finished by the end of 2024, Honda also says it's making progress retooling its Ohio plants to start making electric vehicles by the end of next year and making Ohio its EV hub for its North American operations.”
"’The EV hub is the starting point for our electrified future,’ Bob Nelson, executive vice president of American Honda Motor, told reporters Friday. ‘It’s where Honda associates will develop the knowledge and expertise in EV production that will be shared across Honda’s North American auto production network in coming years.’’’
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