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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“Microsoft is breaking into the Central Ohio data center market with a $420 million project in New Albany, but that isn't the only area where the tech giant could be looking to build. The Redmond, Washington-based company also owns approximately 289 acres in Pataskala, 227 acres in Heath and 223 acres in Hebron, according to the Licking County Recorder. That's in addition to the 197-acre site at 3287 Beech Road NW in New Albany, where it plans to construct a 245,000-square-foot data center. Combined, the company's land holdings total some 936 acres across these communities. Microsoft has yet to reveal specific plans for the other properties it has acquired, but an Ohio landing page on the company's website states it is planning to build data center campuses in Licking County.”
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“A large swath of the Taylor Avenue corridor on Columbus' Near East Side could be redeveloped. PACT is looking for a developer for nine sites along Taylor Avenue. The sites total 6 acres, said Sheldon Johnson, PACT's executive director. "Taylor Avenue is the entry point to this neighborhood," Johnson said. The organization is seeking requests for expressions of interest from developers. Responses are due Oct. 18 by 5 p.m. Johnson said after all responses are in, PACT plans to take ideas to the community for input. First, a committee made up of community members would review the ideas, then Johnson said he plans to visit area commissions and other neighborhood groups for feedback. Ultimately, PACT will make the decision on which ideas to select based on the community's response. PACT is seeking proposals that promote housing affordable to a range of income levels and the creation of economic opportunity for minority- and women-owned businesses as well as workforce development and job opportunities for local residents, according to the REI."
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“A local developer wants to build a 22-story mixed-use tower next to Lower.com Field. The proposal for the site at 530 W. Spring St. was filed last month with the city of Columbus by Arshot Investment Corp. The 1.6-acre site sits just west of the Arena District at the corner of West Nationwide Boulevard and Hocking Street, just past the railroad overpass on the way to the Columbus Crew's stadium. The surface parking lot serves an adjacent office building with the address 530 W. Spring St. that does not appear to be part of the proposal. An email to Arshot for more information on the plans was not immediately answered. According to the preliminary plans filed with the city, the project would include a ground floor spanning the site, topped with four stories of parking with 580 spaces, plus an amenity deck. Two separate towers would then rise on either end of the project. One would be six additional stories and the other would be 15 stories.”
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