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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“Lip-Bu Tan, who resigned from Intel Corp.'s board of directors last summer, is back with the troubled chipmaker as its newly appointed CEO. In his introductory letter to employees and shareholders, Tan hinted that Intel's commitment continues to its manufacturing business – which includes the $28 billion semiconductor fabrication complex under construction in New Albany. The letter appears to address speculation after Pat Gelsinger left as CEO that the company could offload the contract manufacturing business, called Intel Foundry, which was part of Gelsinger's ambition to restore the company's manufacturing prowess.”
2
“Amazon Web Services plans to invest $1 billion in Marysville, further expanding its data center footprint in the region. The tech giant announced its latest investment Monday after Marysville City Council approved a community reinvestment area agreement for the project, which includes two data center buildings totaling approximately 500,000 square feet at 14684 Industrial Pkwy. The 55-acre site is currently owned by the city but will be transferred to AWS, according to city documents. As part of the agreement, the city will provide a 30-year, 100% property tax exemption on the assessed value of the new facilities. The project is expected to begin construction in August and be completed in 2027.”
3
“A new tenant has joined the Gravity development in Franklinton. SHP, a Cincinnati-based architecture, interior design and engineering firm, moved its Columbus office to the building at 450 W. Broad St. It was previously located at 1086 N. 4th St. The company is taking the space formerly occupied by Pelotonia, which was one of the first tenants at the $68 million mixed-use development. The local nonprofit moved to Ohio State University's Energy Advancement and Innovation Center in the Carmenton innovation district last year. The 4,500-square-foot space SHP now occupies is nearly double the size of its previous location, the company said. The new office is designed to foster more in-person collaboration and is a reflection of the firm's 'continued dedication to the Columbus area,' according to a press release.”
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