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
“Search giant Google is building on its central Ohio presence, announcing Monday that it will spend an additional $1.7 billion this year to fill out its three data center campuses in the region. The company already has invested $2 billion in the region since it broke ground for its data center in the region in New Albany in 2019.”
"’It's amazing to see the growth in the area,’ Mark Isakowitz, Google's vice president of government affairs and public policy, said at Google's data center in New Albany where the announcement was made. The announcement comes nearly four months after Google confirmed it is building two additional data centers in central Ohio − one on the Far South Side of Columbus and a second one in Lancaster.”
“Google didn't detail specific plans for the new investment other than to say the $1.7 billion will support all three sites as the company expands its technical infrastructure presence in the state.”
2
“Downtown leaders are hoping to provide their own answers to the region's prayers, in the form of the $290 million second phase of The Peninsula. The Peninsula's second phase will start construction next year, bringing additional office, residential, hotel and a grocery store. The developers behind The Peninsula – the Columbus Downtown Development Corp., Columbus-based Rockbridge and Daimler, and Indianapolis-based Flaherty & Collins – announced details of the development last week.”
“The second phase will include a grocery store, 150,000 square feet of new office space, about 300 apartments in a 20-story building, a 120-key hotel, a 40,000-square-foot Pins Mechanical Co. and a 400-space city-owned parking garage. It follows the project's nearly completed first phase, which includes 230,000 square feet of Class A office space, 330 apartments and a 198-key hotel, The Junto.”
3
“OhioHealth is planning to construct a new addition to a rehabilitation hospital it recently acquired in Dublin. The Columbus-based hospital network and Select Medical — a Pennsylvania healthcare company that operates a joint venture with OhioHealth — have proposed a nearly 11,000-square-foot expansion of the rehab hospital at 3805 Emerald Pkwy. The existing hospital measures 46,400 square feet, so the project would grow the facility by about 24%. The hospital sits on a 5.8-acre site.”
“The one-story addition would add 20 beds to the rehab hospital, which has 40 existing beds. That's a 50% increase. The expansion will be built in one phase, though a construction timeline was not listed in city documents.”
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