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
“Amgen Inc.'s recent addition to its New Albany property is a long-term investment to allow future expansion, according to the company. The biopharmaceutical giant, which opened its processing and packaging plant in February, recently exercised an option to buy the adjacent 22 acres to the west from an affiliate of developer New Albany Co. New Albany officials were not aware of the purchase until afterward, and Amgen has not asked to amend its economic development agreement with the city, Jennifer Chrysler, director of community development, said via email. The company could not develop that portion of the property until the agreement is amended.”
2
“Three separate LLCs with the same address as the Denver office of Ares Management Corp. bought the properties at 3280 Southpark Place, 3265 Southpark Place and 3563 Southpark Place in Grove City for a combined $72.55 million, according to the Franklin County Auditor's website. Ares Management is a global investment and management firm with about $378 billion in assets under management as of last year. The firm was founded in 1997 and now has over 3,100 employees operating across North America, Europe, Asia Pacific and the Middle East, according to its website. The firm, via a spokesman, declined to comment on the purchase. All three industrial buildings are occupied. The industrial properties are home to a facility for Dublin-based third-party logistics provider FST Logistics (3280), Veritiv (3265) and the Home Depot Distribution Center (3563)."
3
“The city of Columbus made strides in 2024 to increase housing production. Columbus Mayor Andrew Ginther spoke with Columbus Business First about some of the biggest accomplishments of 2024 – such as the first zoning overhaul in 70 years and a new regional nonprofit – and what the city has planned for housing in the new year. "The best way to deal with the supply crisis is to get more units online," he said.”
