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
“A new facility for Eco Plumbers, Electricians and HVAC Technicians is slated for construction now that the project's developer has acquired the land on which it will be built. Equity, the local developer behind the project, bought the 19.2-acre property for just more than $4 million, according to Franklin County property records. The land is located east of Britton Parkway near Interstate 270 in Hilliard. The acquisition sets the stage for construction to begin on the 158,000-square-foot flex industrial facility. Eco will become the $52.7 million building's anchor tenant, taking roughly 50,000 square feet of space.”
2
“Columbus developer Brad DeHays has plans for the nearly 2 acres of vacant land he purchased at the corner of Innis and Westerville roads. The developer plans to build a modular apartment project with about 70 apartments at the site, located at 3377 Westerville Road. The site is across Innis Road from DeHays' Connect Housing Blocks facility, which opened last year."
3
“Lydia Mihalik, director of the Ohio Department of Development, said in a press release that mixed-use developments help create jobs, housing and revitalize parts of the state that have historically been underdeveloped. “The Transformational Mixed-Use Development program is helping to make our communities more interconnected, productive, and sustainable,” Mihalik said. The tax credit can be used to help with new construction or redevelop existing vacant buildings. It is issued when a project is completed.
Eligible projects must include at least two mixed uses, or three if one is a parking structure. Eligible costs include land acquisition, building acquisition, demolition, site improvement and new construction.”
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