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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“The developer of Galaxy at Polaris is seeking state funding for the $140 million project. NP Limited Partnership applied for a $7.4 million Ohio Transformational Mixed-Use Development tax credit for the massive mixed-use development at 8870 Galaxy Way. It is the third time the developer has applied for the incentive, going back to when the state first rolled out the program in 2022. "We're hoping the third time is the charm," NP Managing Director Franz Geiger said. Galaxy at Polaris, which is underway, includes a 737-space public parking garage, 289 apartments, about 37,000 square feet of commercial space, walking paths and a pond, a dog park and an amphitheater. The project's initial phase is expected to be complete in September 2025.”
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“Amazon Web Services will build a data center campus in Sunbury as part of its multi-billion-dollar commitment to Central Ohio. The tech giant plans to invest $2 billion in the campus, which will be located at 11793 Vans Valley Road in the Sunbury Business and Technology Park, a newly zoned and annexed area of almost 1,300 acres on the east side of Sunbury. AWS plans to purchase the site from Sunbury Land Co., which acquired it for nearly $11 million in September, according to the Delaware County Auditor. Construction of the initial 450,000-square-foot building is expected to begin in January 2028 and will be completed by December 2034."
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“A Denver-based data center company is planning a $7 billion expansion in the region. Cologix has acquired 154 acres in Johnstown for an AI-ready data center campus spanning 2 million square feet across eight facilities. The company paid nearly $45 million for the property at 12017 Duncan Plains Road, according to the Licking County Auditor. It was acquired from Johnstown Land Co., an affiliate of New Albany Co. Development of the project's first phase is expected to begin in 2025. When completed, the campus will have 800 megawatts of available power capacity. Cologix opened its first Central Ohio data center more than a decade ago. Today, it operates four data centers on Scherers Court and Alta View Boulevard in the Worthington area. The company's latest facility, COL4, opened this year. It was Cologix's first co-location, AI-ready data center in the region.”
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