Daily finance had an interesting interview with Jeff Speck, author of Walkable City: How Downtown Can Save America, One Step at a Time. Jeff Speck is an architect and city planner in Washington DC and served on the Mayor’s Institute on City Design. He also served on the Sustainability Task Force of the Department of…
Of the top 200 U.S. markets, Columbus ranked second with a score of 30, only behind Houston (33) and followed by Orlando (29), Charlotte (28) and Salt Lake City (28). The job creation score was created based on a survey of local employees with a question of whether their employer was adding or cutting jobs. …
The Columbus and Central Ohio MSA new and resale homes report show that the market remains strong and is getting stronger. Homes sales for the quarter were up 17.6 percent over first quarter last year and pending sales are up 19.3 percent. Median price at $135,000 for March was up 4.9 percent over the $128,650…
New High end apartments in the vicinity of downtown or the short north are commanding up to $3,000 per month. A wave of swanky apartments are coming online within the next 12 months with two bedroom unit approaching $2,000 per month, and townhouses and penthouses at up to $3,000 per month. The Wood Co. apartments…
CoStar News reports that new apartment construction at four or five times the national average for other types of commercial construction in certain markets will cause vacancies to increase. “Apartment construction has been on a tear in certain markets,” CoStar says. “With the inventory growing at more than four or five times the national rate,…
There were 22,915 homes sales for all of 2012 and that was up 15.5 percent from 2011. These are the best numbers since 2007. Average sales price was up 7.2 percent to $167,459 for 2012 and December was $158,898, which is up 7.5 percent from December 2011. Median price was also up 8.7percent to $144,500…
Since this is the community where I actually live I thought I would post an update regarding activity in old uptown Westerville. The project at 7 & 9 N. State that my clients are working on is progressing nicely. The building was a disaster and has been gutted and rebuilt. The exterior is being restored to…
There’s a lot going on around here aside from the I-70 / I-71 project. IF we have a mild winter as we did last year, it will get these projects moving along toward completion early in 2013 except for the freeway reconstruction. That will take a little bit longer. Columbus Commons, 600 Goodale, Harrison West,…
New data show major rebound in both commercial and residential construction led almost entirely by multifamily and single family development. Developers and builders started construction on the highest number of single family homes and apartments since July 2008. Multifamily rose 10% in October 2012 to an annualized rate of 285,000 units. Single family building application…
Columbus and Central Ohio October home sales were up for the tenth consecutive month with sales of 1,990 up 24.8 percent from October 2011 according to the Columbus Board of Realtors. Average price was $163,764, which is a 10percent increase from last October. New listings were up 12.1 percent, putting the current unsold inventory at…
CoStar’s CCRSI index show strong pricing gains across all commercial real estate segments for September 2012. Third quarter commercial real estate transactions closed with with strong pricing gains. CoStar’s two broadest indexes that measure aggregate pricing movement for commercial real estate properties, the CCRSI’s U.S. Value-Weighted Composite Index and the U.S. Equal-Weighted Composite Index, posted…
Prices are still trending upward. Homes prices in the Columbus and Central Ohio area are up from same month last year with an average price of $169,413. That’s up 8.1 percent over September 2011. 1,859 homes in Columbus and Central Ohio sold during September 2012, which is 2.5 percent increase over August 2012. Year to…
Reis Reports announced that the 126,022 unit Columbus / Central Ohio multifamily market vacancy rate had fallen to 6.1 percent by the end of the second quarter 2012, which is the latest quarter we have numbers for. That’s down 30 basis points over the prior quarter and down a whopping 190 points from second quarter…
The news is good again. Homes prices in Columbus and Central Ohio are up from same month last year with a average price of $178,766, which is up 6.4% over the same month last year. 2,326 Central Ohio homes sold during August 2012, which is an 12.3% increase over August 2011. Year to date home…
Buyer need – Corporate leased triple net c-store such as 7-11, Circle K, Walgreens or CVS with 8 years or more unexpired absolute net lease for 1031 SoCal buyer. Gas or without gas is fine on the C-stores. Single tenant only. S&P BBB or better. This mean investment grade guarantor on the lease. No franchisees. However, it must…
The multifamily segment of commercial real estate continues to strengthen in spite of new supply coming on line according to Randyl Drummer of CoStart news. Demand still far outstrips demand. For the sixth consecutive quarter, the National Multi Housing Council Quarterly Survey of Apartment markets showed improvements across all four indices. The indices measure supply,…
There’s continued good news for the Central Ohio market as homes sales were 2,429 for June 2012, up 18.1% from the 2,056 for June 2011. Sales for the first half of the year were 10,473, up from the first half for 2011 at 9,507. Median price was $155,250, up 15% from $135,000 in June 2011. …
I’m not saying that we’re quite back to pre crash levels of pricing but we’re getting there. Given the general malaise in the American economy with job growth, GDP growth and most other indicators, it’s surprising that the commercial real estate recovery has been as strong and broad based as it has. It didn’t start…
Residential home sales are gaining strength in Columbus and Central Ohio according to the Columbus Board of Realtors. May 2012 homes sales were up for the fifth consecutive month to 2,070, up 5% from the 1,971 sales in May 2011. Year to date is 7,966 up 6% from 74,51 in the same time period last…
As prices get stupid for the product of choice – the triple net or absolute net, S&P BBB or better, single tenant retail, it starts pulling up secondary and tertiary markets and slightly weaker credit single tenant retail. Multi tenant won’t be far behind. We’re now in a broad based recovery that is pulling the…