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 proposed downtown Columbus tower has grown in height and scale. Bluestone Brothers Capital is proposing a 23-story mixed-use building with 290 apartments and a five-story commercial building for 199 E. Rich St. The project is proposed to span the entire block bounded by East Rich, South 4th, East Cherry and South Young streets. The proposed project would demolish buildings that include businesses such as Dirty Frank's Hot Dog Palace and 16-Bit Arcade. Bluestone Brothers owns the building at 199 E. Rich St., but the other parcels – 175 E. Rich St., 183-189 E Rich St. and the buildings along 4th Street – are not owned by Bluestone Brothers according to the Franklin County Auditor's site.“
“The proposed new building would include 347 structured parking spaces and about 18,000 square feet of commercial space on the ground floor, according to the plan. There are plans for studio, one- and two-bedroom units, as well as penthouses, ranging from about 1,800 square feet to 2,200 square feet.”
2
“A Canadian recycling company with ties to prominent apparel brands has chosen Central Ohio for its flagship facility in the United States. Debrand, which provides textile sustainability and sortation services to retailers such as Reynoldsburg-based Victoria's Secret, Lululemon and Everlane, opened its first U.S. facility within a newly constructed building in the city of Delaware. The 32,000-square-foot operation is used for textile reuse, recycling and recovery. The company said it chose Central Ohio due to its status as a hub for major apparel companies and strategic geographical position.”
“To help facilitate circularity solutions for apparel brands embarking on their circularity journey, we recognized the necessity of investing in a central U.S. location that was both environmentally and economically viable,” Debrand CEO and co-founder Amelia Eleiter said in a press release. “Not only is Columbus home to some of the largest apparel companies, but its location brings us closer to our reuse and recycling partners. "The Delaware operation seeks to mirror the success of Debrand's facility in Canada by fusing automated textile sortation technology and equipment, according to the release. This integration empowers scalable textile sortation, increasing capacity and capabilities to meet the growing demands of next-life logistics services and solutions, the company stated."
3
“The Little Grand Market at Thrive Cos.' Grandview Crossing development will open Aug. 16. Work on Grandview Crossing started nearly a decade ago when Thrive Cos. began to remediate and redevelop the former landfill into apartments, office and retail. The Little Grand is the latest part of the development to come to fruition. Market vendors were announced in April. Beyond the market, there are apartments, two retail spaces and a planned Athletic gym."
"About 660 residential units are either completed or under construction within Grandview Crossing; 930 total apartments are planned in this phase. "We wanted to have more than traditional retail as an amenity for the apartments," Lilly said. The market opens up to a 3-acre park featuring an area for dogs and pickleball courts. People dining or drinking at the Little Grand will be able to make a purchase in the market and carry it out to the park."
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