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 Peninsula's latest office lease is an example of a continued trend of tenants seeking walkable, mixed-use spaces. Josh Harrison, president of Improving Ohio, said the office at The Peninsula was attractive because of its location near downtown and Franklinton, as well as its walkability. “For firms like us, the urban core is the future of office," Harrison told me. Improving is leasing about 5,000 square feet on the first floor of the eight-story, 231,000-square-foot office building at 330 Rush Alley that is part of the $250 million first phase of Downtown Columbus Inc.'s Peninsula project. The building is now more than 50% occupied.”
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“The city of Upper Arlington wants to make an aging commercial corridor more attractive to developers. In conjunction with MKSK, the city has developed the West Henderson Road Vision Plan. The plan seeks to create "an aspirational, yet achievable vision" supported by policy recommendations, roadway and streetscape improvements, potential site concepts and guidance for funding and implementation. The area runs from Stonehaven Drive and Chevy Chase Court on the west to Reed Road on the east. The corridor is located on the northern edge of the city and is bordered by Columbus."
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“A Columbus commercial real estate brokerage is growing its multifamily focus. Colliers' Columbus office this month hired Cody Carey as Vice President. Carey specializes in multifamily investment; he started his career at Colliers as an intern and is now returning in this new role. Paul Krimm, president of the Colliers Columbus office, said the move is representative of how fast Central Ohio is growing. There is a big need for housing in the region, and for many people who will move here, multifamily will meet that need, Krimm told me. "The multifamily market is growing in Central Ohio and beyond," Krimm said. "Affordable housing will be important as the city grows, but we're bullish that the Columbus market will continue to offer opportunities for all investors." The firm went about a year without a dedicated multifamily specialist. A junior broker will join Carey next year, growing the team further.”
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