Category Archives: Columbus

New Tax News for 2016 Regarding FIRPTA

FIRPTA increases from 10% to 15%. Currently if a foreign person sells United States real estate the buyer is required to withhold 10% of the gross sales price and remit this to the IRS. However pursuant to the Protecting Americans from Tax Hikes Act of 2015 closings as of February 16, 2016 the FIRPTA will…

Columbus Commercial Construction Update

The Columbus commercial construction update, brought to you by Walker Evans at Columbus underground, highlights both existing and new projects in and around downtown Columbus. Columbus commercial real estate agents / commercial Realtors will be very happy to see this new product coming online. Although it means new commercial construction, but in many instances, not…

Name and Design Change for Clintonville Mixed Use Project

The Clintonville project on Indianola formerly known as The Olympic has a new name, The Deco. From what I understand, an early NIMBY opposed to the project ratted them out to the USOC who then notified the developer that the change of use invalidated their grandfathered status to continue to use the name Olympic. Now,…

Columbus Multiunit Residential Market Ranked 10th Nationally

columbus commercial realtor

A  report by All Property Management http://www.allpropertymanagement.com/ , who is the largest group of property management companies in the United States,  ranked Columbus and Central Ohio as the best market for landlords in the Midwest, and the 10th best in the country. Columbus commercial real estate agents, me included, couldn’t be happier at the new…

1031 Buyer Requirement – Triple Net Retail or Absolute Net Retail, National Credit, Single Tenant – $1.3 to $2.6 Million

California exchanger in day 4 of 45 day identification period looking for triple net retail properties for sale or absolute net retail investment.  $1.3 mil needs to be replaced to $2.6 mil under the 200% 1031 rule. Must be credit tenant, preferably single tenant, NNN, triple net leased retail with at least seven years unexpired left…

Redeveloped Retail and Restaurant Space for Columbus Short North

short north retail and restaurant space for lease

In what’s just about the last undeveloped block between downtown Columbus and the Ohio State University campus, we’re about to see some changes.  And these changes will make Columbus commercial real estate agents very happy to have something new to lease in the Short North.  We have plenty of demand and no where to put…

Retail Lease Basics

I get questions from both proprietors starting a new concept and looking for a new space to lease and investment buyers looking for net leased retail properties to purchase so I thought it would be a good time to review the basic lease types. I’m certain that most Columbus commercial real estate agents get the…

Columbus Commercial Construction Update for September 2015

At the link is an update from Walker Evans of Columbus Underground regarding commercial construction progress in and around Columbus Ohio for September 2015. There’s a bunch of it, both already underway and just beginning.  Columbus commercial real estate agents will rejoice that we’re getting new restaurant, retail or office product to lease in many…

Columbus Construction Update for August 2015

There’s an amazing amount of commercial and residential construction activity in the Columbus Metro this summer so I thought I would take you over to Walker Evans’ Columbus Underground for an update. Covered are the new Nationwide Children’s Hospital building at Parsons and Livingston, which is driving the development in Olde Town East.   I have…

Easton Gateway is Just About Complete When Whole Foods Opens September 2nd

columbus easton retail building for lease

Whole Foods is the last large tenant in Easton Gateway and they were one of the original tenants announced back in 2013 when the project was unveiled. The 45,000 square foot store will be Whole Food’s 422nd store and the third in Columbus along with Lane Avenue and Dublin Grandville Road. They also opened their…

Central Ohio’s Franklin County Ranked Number Four Nationally for Job Growth for large companies.

columbus commercial real estate for sale or lease

Some more good news to report regarding Central Ohio, brought to you by www.headlightdata.com. “Top 10 Counties with Best and Worst Performing Holding Company Economies of 2014: Harris County-TX / Houston Creates the Most Jobs at Holding Companies; Fairfax County-VA / Washington DC Loses the Most Recently released data show that jobs created in 2014…

Columbus – First in the Nation With Wage Growth

Money / CNN reports that hourly wages grew at a rate of 6.2% in Columbus, far higher than the national average of 2.1%. Much of this can be attributed to the unemployment rate here in Central Ohio, which at 4.2% is getting to the point that we’ll start experiencing labor shortages as we already are…

Clintonville – Olympic Swim Club Mixed Use Project Approved

The slightly downsized project for the old Olympic Swim Club site at 3450 Indianola finally got its final zoning approval by Columbus City Council. Initially, the project was slated for 152 apartments and 18,000 square feet of retail and restaurant, but that brought quite a bit of resistance from local residents concerned about traffic as…

Columbus City Council votes 7 – 0 for Hamilton Road 161 Project, Hamilton Crossing

Finally, after a decade of the fights with the Army Corps of Engineers over wetlands and then the real estate downturn, something is finally going to happen with this big empty field I drive by every day. Monday night, Columbus City Council approved by a vote of 7 – 0 the 330 acre, $250 million…

Sawmill Parkway to be Extended to Route 42 in Delaware County

net leased retail in Delaware County Ohio

This has been a long time coming.  Finally, construction is going to get started on the Sawmill Road extension in the next couple of weeks with completion expected in October 2016. Today, Monday, Delaware County Commissioners approved the $30.4 million contract to extend Sawmill Parkway by almost five miles from Hyatts Road to Route 42…

Uptown Westerville – Pasquale’s Closing, Asterisk opening

Uptown Westerville is becoming the north, Short North. What a transformation over the last few years from antiques to polished casual restaurants and bars. First it was Old Bag of Nails then Jimmy Vs to Koble (in a building I sold). Then the 8 State Bistro takes the place of the old State Street Theater…

The Morse Road Northland Village to Get New Kroger

The once hot Northland area in the 60s and 70s fell into decay and vacancy after Lazarus closed their Northland store a decade or so ago.   There’s been a major attempt to revitalize the Morse Road net lease retail area over the last several years with some success.   Biggest success is the new Menards store…

The Short North White Castle Project Gets an Update

Columbus Short North retail and office

As was just reported by Walker Evens of Columbus Underground, and just about everyone else, Borror Properties revealed its latest design update for the 11 story proposed replacement for the old pre WWII White Castle located at second and HN High Street. After feedback from the Victorian Village Commission in April, Borror made some very…

Delaware County’s Tanger Outlet Mall Approved

Delaware County commissioners have approved the $17.6 mil worth of roads that well soon serve the route 36/37 net leased retail 350,000 square feet Tanger Outlet Malls. Preliminary site work has already begun, but a date for the official ground breaking hasn’t been announced yet, but it expected to be very soon. The project includes…

Clintonville – North Broadway and High Street Development

Northstar Realty and Mark Ford of Ford and Associates AIA presented a preview of preliminary plans they will eventually take to the Clintonville Area Commission for approval.  The meeting was hosted by Positively Clintonville https://www.facebook.com/pages/Positively-Clintonville/1401958676717564 to allow the developer to get feedback from the community before the plans were submitted for approval from the city….