THE WEEKLY REVIEW | March 7, 2025

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

Office - Columbus Federal Building that Houses IRS, Social Security Offices Could be Targeted for Sale

“A Columbus government building faces an uncertain future after being targeted for "disposal" in a since-deleted list published by U.S. General Services Administration. The John W. Bricker Federal Building at 200 N. High St. was one of seven Ohio facilities the GSA described on its website as a "non-core property" that could be sold to ensure ‘taxpayer dollars are not being spent on vacant or underutilized spaces.’ The nearly 230,000-square-foot Bricker building is home to offices housing workers at the Social Security Administration, the Internal Revenue Service and the Department of Housing and Urban Development. A 1,000-square-foot parking facility for federal employees attached to the building also was included.”

2

Development - Why Dublin is Planning an Innovation District in the Western Part of the City

“Dublin is looking westward to one of the largest parts of undeveloped farmland in the city to transform into an innovation district. The city has hired a local consulting firm to formulate an “integrated implementation strategy” for the West Innovation District, a tract of land over 2,000 acres on its western edge. The district is a mix of farmland, built-out sports fields and Ohio University’s Dublin extension campus. Drafting the strategy involves integrating big-picture ideas from the city’s recent master planning process, as well as incorporating water and sewer master plan information, according to a presentation shared at a city council work session late last month.”

3

Retail - Nearly 800 Leases for Joann Stores, Distribution Centers Head to Auction — Including These in Central Ohio

“The shuttering of Joann stores could mean a real estate opportunity for other retailers or operators. The Hudson-based crafts retailer is winding down its business, which means closing 790 stores nationwide. That tally includes 44 in Ohio and 7 in Central Ohio. New York-based A&G Real Estate Partners is auctioning off the leases of those locations for possible future users. Neither an auction date nor a bid deadline have been set. Mike Matlat, senior managing director for A&G Real Estate Partners, said in an email Tuesday morning that his New York state firm is marketing the leases of the closing stores and distribution centers for sale, assignment and termination.”