Residential and Retail on 1,000 Acres at Evans Farm in Delaware County

A New Urbanism concept is set to rise on 1,000 acres in Orange and Berlin Township. While not yet formally approved in its entirety by the Orange Township trustees, all three have expressed strong interest in the project.  The rezoning from agriculture to commercial has been approved.

The new community will begin just east of Olentangy High School and stretch all the way to Alum Creek State Park on the east and eventually all the way north to Berlin Township. The 450 acres in Berlin Township could be a few years off until construction begins.

The goal of the family who owned the large farm was a vision to create a community very different than anything else in Central Ohio using the concept of the New Urbanism movement. New Urbanism calls for walkable, self-contained communities with homes set close to the street, including large usable front porches, walkable local retail, restaurants and services.  Garages will be side entry or from the rear.

This rather fantastic concept got started about six years ago when the family who owned the farm approached developers, Dan Griffin and Tony Eyerman, about doing something really unique on the land versus just more single family housing. The family’s decades long goal was to create a real community center for Orange Township simliar to historic Uptown Westerville, Old Worthington, Grandview, etc.  The project will be named Orange township Town Center.

There will be small local retail, cafes, small restaurants, bakeries and a YMCA, but no big box stores or large anything. Also planned is a new elementary school to be part of the Olentangy School District.

http://www.thisweeknews.com/content/stories/olentangy/news/2016/01/19/development-idea-sprouts-at-evans-farm.html

http://delgazette.com/news/12650/orange-twp-oks-evans-farm-at-trustees-meeting

This is probably still a little early for NNN, triple net retail lease up, but if you’re interested, give me a call, Scott Harris Realtor 614-905-6614

Northgate Retail Rezoning for 250 Acres in Sunbury Approved

On Wednesday, April 6th, the Sunbury Village Council unanimously approved rezoning for 250 acres as part of the 1000 acre retail, residential, office mixed use development Northgate Centre from agricultural to commercial.

The rezoning decision was passed as an emergency. Many residents expressed concern at the measure passing as an emergency, but village attorney, David Brehm said that removing the emergency clause was not an option.

Reason being that Ohio DOT had no plans for modifying or improving the existing interchange at I-71 and US Route 36 / 37, leaving a new interchange just south of the existing interchange as the only option. Ohio DOT had long planned an additional interchange somewhere from Big Walnut Road up to just south of the Route 36 interchange.

The village attorney said passing the ordinance as an emergency measure would help facilitate the process of approving the new interchange and without the development there wouldn’t be the funding to build the interchange and without the interchange there wouldn’t be the development.

The site now rezoned will become part of the giant 1,000 acre Northgate Centre mixed use development to include triple net retail, net lease restaurants, car dealerships, office, warehouse and and athletic fields and faculty.

The Northgate web site states that the development will encompass.

  • 1,036 acres of a mixed use commercial site.
  • 1,500,000 to 3,000,000 sq ft of retail and office use. 300 acres of warehouse/distribution development providing up to 10 million sq ft of warehouse distribution space.
  • 6-8 hotels with approximately 600-1000 rooms.
  • Total payroll of retail, office, and hotel use: $76 million.
  • Sales tax revenue of over $58 million per year.
  • Destination Auto Mall with 4 to 6 new car dealerships.
  • 60 acres outlet/lifestyle center, 400,000 sq ft, with over 5 million visitors per year, creating an excess of $250 million in Sales yearly.
  • COTA and DATA Drop off sites to provide bus transportation within Franklin and Delaware County.

Preliminary lease up will happen far ahead of anything ready for occupancy so if you’re interested in any of this Delaware County Ohio / Sunbury NNN, triple net retail space, feel free to contact me, Scott Harris Realtor at 614-905-6614

Top Ten US Markets for Apartment Development – Columbus # 1

According to Zillow, the real estate database company, this “college town” is booming with regards to new apartment construction and fast lease up with rapidly rising rents. Some of  us would consider Columbus a bit more than just a college town, given that there’s over 2 million folks in the metro.   True though, that around 110,000 are college students.

It’s not just OSU undergrads that are driving this market. The outer ring suburbs of Dublin, Powell, Worthington, Westerville and New Albany are also doing well.  The newest most expensive class-A units are doing the best with the downtown, which is almost all new, with a 96% occupancy rate.

The unfortunate factor for the Columbus commercial real estate agents is that there’s virtually nothing for sale.   The acquisition costs are so low and rents so high that no one sells.  The good is that the residential demand also bring more NNN triple net lease retail and restaurant demand.  That just happens to be what I do.  Net lease retail and restaurant leasing, and NNN triple net retail single tenant investment property for sale, mostly for 1031 exchange uplegs.

As always, if you have any questions, call your nnn, Columbus triple net retail specialist, Scott Harris, 614-905-6614.

http://www.zillow.com/blog/columbus-hottest-rental-market-195204/

Hamilton Rd and 161 – Hamilton Quarter

After 10+ years of round and round with the Army Corps of Engineers regarding wetlands then the 2008 crash, Hamilton Quarter will be the name.

In far northeast Columbus and just east of New Albany on 320 acres of farmland will be Hamilton Quarter with 700,000 square feet of office, one million square feet of nnn, triple net retail, 800 multifamily residences and 130 senior residences. The project is a collaboration of Casto, The Daimler Group and The New Albany Company.

The project includes the long planned rerouting of Hamilton Road. From looking at the site map on the Casto site, I’m not sure what is happening with Dublin Granville Road whether it’s being routed around the project or right through it. As can be seen on the site map, the Columbus infatuation with roundabouts continues.

With most of the residential on development on the north side of 161, I’m not sure how they call this project ‘walkable’ and with most all of the big box retailers already on Hamilton Road just south of this project, and Easton not far away, what they going to do with one million square feet of retail.

The Hamilton Road reroute should be complete by early 2017 and ground breaking late this year. Preliminary lease up will begin soon so If you have interest in retail property for sale or lease in Columbus Ohio please feel free to contact me, Scott Harris, your NNN real estate agent, 614-905-6614

Columbus Short North’s Bollinger Tower Sold For Redevelopment

The Columbus Metropolitan Housing Authority just sold the Short North 11 story Bollinger Tower to Schiff Capital group for redevelopment into what’s likely to be hotel. Bollinger sold for $14 million. The building currently houses 100 residents in 100 units.

The hotel was constructed in 1984 for low income senior housing and is in otherwise in too decent a condition to tear down. Plus, if they did the NIMBYs would likely prevent them from building something this tall again. I think they’re far ahead to redevelop what’s already there.

The City of Columbus wanted to divest itself of high maintenance real estate and invest directly in the tenants by providing housing vouchers so the tenants can live where they choose. Given that the building housed low income elderly, I’m concerned about major disruption to lives where they might not be able to fend for themselves.

Columbus Underground reported that “Selling Bollinger Tower fulfills our long-term strategy to expand CMHA’s capacity to assist more residents,” stated CMHA president and CEO Charles Hillman. “This transaction furthers our plan to divest ourselves of high-maintenance real estate in order to invest directly in people’s lives. Residents will receive portable housing vouchers enabling them to live in apartments of their choice in neighborhoods of their choice.”

And “I certainly understand how the perception of gentrification is a concern,” said CMHA COO Bryan Brown. “Do we have an obligation to provide low-income housing in a high-cost neighborhood? Sure. But we also want to expand our mission and help serve three times as many residents as we currently do at Bollinger. And if you think about the need for more hotel capacity, which provides economic development for our city, converting Bollinger to a hotel is a big plus for the city as a whole. On balance, it’s a big win and I hope people see it that way.”

There’s no decision yet regarding ground floor net lease retail or restaurant space, Frankly, that’s what Columbus commercial real estate agents want to learn about, including me. If you’re interested in retail or restaurant space, I’ll do my best to get answers. Contact me, Scott Harris, Realtor, 614-905-6614

1031 Exchanges – The Four Basic Rules

1031 Exchanges

Given the glut of triple net retail, single tenant, S&P BBB rated or higher, replacement properties that have come on market over the last couple of weeks, we have plenty of net leased Walmarts, Walgreens, CVSs, 7-11s, etc. available, and at decent cap rates with long 10+ year leases.

These are as perfect a 1031 replacement (upleg) property as we find so I thought it might be a good time to go over the four primary 1031 rules.

  • Rule # 1 Both the relinquished property and replacement property must be held for investment purposes or used in a business and be ‘like kind’.
  • Rule # 2 The IRS requires the investor to identify the replacement property or properties within the 45 ‘identification period’. The identification period begins the day of closing of the relinquished property. The replacement properties must be properly identified by the Exchanger.

There are two more identification rules under Rule #2. The exchanger may identify up to three replacement properties regardless of market value (Three Property Rule). Or they may identify unlimited number of properties provided that the total value not exceed 200% of the relinquished property (200% Rule). The minimum requirement is 95% of the value of the relinquished property

  • Rule #3 You must close on the replacement property the earliest of within 180 days of the closing of the relinquished property or the due date of the tax return or file an extension. And this is 180 calendar days … no time off for weekends or holidays.
  • Rule #4 On a delayed exchange, you must work with an IRS approved Qualified Intermediary.

For more detail regarding a 1031 exchange replacement properties, or referral to a Qualified Intermediary, contact me, Scott Harris, 310.473.4789 or 614.905.6614

Searching For a Single Tenant, Triple Net Retail, Credit Tenant 1031 Upleg?

There is a real bumper crop of new opportunities on the market right now for net leased retail 1031 uplegs. These are all new opportunities that have come on market in the last week.

It’s not unusual to see many triple net retail single tenant properties come on the market at this time of the year, but this year it’s unusually strong. Plus, it’s very high quality net lease properties as we’re talking Walmart, Walgreens, CVS, all credit tenants, S&P BBB or above.

Are you in your 45 day identification period? Have you closed your down leg yet?  If you have a 1031 downleg about to close and you need a replacement property, now is a great time.

If you have any questions, you can reach me, Scott Harris, at 310-473-4789 or 614-905-6614

Short North Victorian Village White Castle development Ready to Go

Short North retail and restaurant for leaseAlthough it’s been scaled back a bit during the Victorian Village Commission approval process, the Borror Properties development 2nd and High Street is ready to roll with construction beginning in summer 2016.

Final details such as lighting, signage and colors have yet to be approved and will be during the permitting process.

During the commission’s January 14th meeting there were still a number questions and concerns about the details for the garage. All of that will be worked out during the permitting process.

The approved building will be six stories along High Street with eight stories toward the back. Also approved are 98 apartment units with 12,000 square feet of office space on the second floor and 11,000 square feet of ground floor retail and restaurant space.

A parking garage with half of the spaces for public use will be part of the project. That’s hugely needed in the north Short North.

If you’re interested in leasing retail or restaurant space in the Short North, I would be happy to work with you, Contact me, Scott Harris at 614-905-6614.

Clintonville / Old North New Development to Replace Patrick Js and White Castle Site

Columbus Clintonville commercial real estateThe Patrick J’s property at 2711 N High Street has been purchased by Borror Properties a couple of weeks ago. Patrick Js also closed at that time. The developer, Borror Properties, plans to combine the Patricks Js parcel with the old White Castle property to the north at 2725 N High for a larger development.

Doug Borror, at this time isn’t quite sure what he’s going to do with it, but when they do decide, the parcels present some unique challenges.

Working with one group of NIMBYs is difficult enough, but in this instance there will be two. The old White Castle property will be the Clintonville Area Commission and the old Patrick Js will be University Area Commission.

I’m sure it will be another mixed use project like everything else is, with ground floor retail and upper level apartments or condos.  In that ground floor retail, maybe we’ll get a couple restaurant spaces as that would make all of us Columbus commercial real estate agents and brokers very happy.   We sure need the restaurant lease space.

Good luck Doug

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 increase in most instances from 10 to 15%.

Congress created FIRPTA based on reports that foreign investors were purchasing U.S. real estate and then selling it at a profit without paying any U.S. taxes. Consequently, FIRPTA created a requirement forcing buyers to withhold 10 percent of the purchase price and remit it to the Internal Revenue Service at the time of closing, subject to a few exceptions.

The settlement agent is the party that withholds and remits the funds to the IRS, but the buyer is legally responsible.

A few exceptions are noted in the below. First is that at a sales price of $300,000 or less and buyer acquires as a principal residence there is no withholding.  Second is a sales price of $300,000 to $1,000,000 and the buyer acquires as a principal residence the withholding is 10%.

Other exceptions are:

No withholding is required under the following additional circumstances:

•    Seller provides Non-Foreign Affidavit

•    Seller  provides a Withholding Certificate from the IRS which excuses the withholding

•    The amount realized by the seller is zero

•    The property is acquired by the United States or a political subdivision thereof

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 new as in additional retail space. We need additional retail and restaurant space for Short North, OSU area and Clintonville.

Anyway, back to the update. Notice that the Nationwide Insurance building is well on its way for completion and occupancy for March on 2016.

The Edwards Communities develop between eighth and ninth south of campus is coming along nicely helped by the very mild weather we’ve had so far this winter.

What’s nice with this one is that there’s going to be 23,000 square feet of new, additional, net leased retail space with two or three restaurants.

Below are the links to Columbus Underground’s commercial construction update

http://www.columbusunderground.com/construction-update-south-campus-gateway-expansion

http://www.columbusunderground.com/construction-roundup-november-2015-part-1

http://www.columbusunderground.com/construction-roundup-november-2015-part-2

If you’re looking for Columbus retail or restaurant space, please feel free to contact me, Scott Harris at 614-905-6614.

 

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, after a minor redesign to fit the new name the project is scheduled to break ground this week. They’ll still have 114 one and two bedroom apartments and 5,000 sq feet of retail.

And speaking of that 5,000 sq feet of Clintonville net leased retail space, I understand that they want a sit down type polished casual restaurant and a coffee shop so Columbus commercial real estate agents will be happy to have just a little additional inventory in Clintonville.

If you’re looking for space, maybe I can help. Call me, Scott Harris, Realtor at 614-905-6614

Columbus Multiunit Residential Market Ranked 10th Nationally

columbus commercial realtorA  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 level of activity and the net leased retail opportunities we’ll see in the future.  The development in downtown is all mixed use so that means ground floor triple net retail.

Columbus area developers have added thousands of units over the last few years, which is driving much additional mixed use, triple net retail and restaurant space for lease in the Columbus area.  We sure need it.

In spite of the new apartment supply coming online,  there’s still a drop in Columbus vacancy rates into the range of 5.5%.  Plus the Columbus multiunit market has seen a 25% rise in rents over the last four years and a 9.9% rise in the last year.   It can’t get much better than this.

From personal experience, however, my advice to an investor, especially an out of town buyer would be to stick to class A and good class B units and complexes.  Tenants here in class C buildings can be a major nightmare. If you buy class C you need to be local.

If you’re interested in becoming an owner, contact your favorite Columbus commercial Realtor or commercial real estate agent.  I’m happy to help.  Contact me, Scott Harris, Realtor at 614-905-6614

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 on net lease.   Corporate net leased retail properties for sale such as single tenant 7 Eleven, Circle K, Get Go, Turkey Hill, KFC, Chipotle, Panera Bread, Taco Bell, Walgreen, CVS, Tractor Supply, Auto Zone, NAPA, Advanced Auto, etc. is fine.  Fast food and fast casual fine if corporate lease.

Again, relinquished property closed four days ago the clock is running and will have 41 days left in the 1031 45 day identification period.

California, Los Angeles or Santa Monica commercial real estate agent  / broker /principal with property  that meets above requirement call me, Scott Harris at 310-473-4789, 614-905-6614 or better yet, email to scottharrisrealtor@gmail.com.

Redeveloped Retail and Restaurant Space for Columbus Short North

short north retail and restaurant space for leaseIn 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 these net lease retail and restaurant tenants.

Local developer, Chris Corso, owner of Concept Equity, is becoming quite active on High Street in the Short North and downtown Columbus.  They will be teaming up with Mark Smith at Continental for redevelopment of the four buildings from 1088 North High and 1112 North High.

The proposal calls for 20,000 of retail and restaurant space with apartments above.  Corso also owns Pint House and Forno so expect a new concept of his to occupy some of the space.

If this gets approved, and I bet it will, if you’re interested call your Columbus commercial Realtor or agent quickly and get in line as this will lease up quickly. Of course, I would be happy to help as a commercial Realtor here in Columbus and Central Ohio. You can contact me, Scott Harris, at 614-905-6614.

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 same exact questions

The corporate backed, investment grade, single tenant, triple net retail lease has been one of the hottest segments of the market over the last four or five years. So hot in fact that cap rates have plummeted to record lows in just about every market in the country.   Los Angeles commercial real estate agents, buyers and tenants have seen cap rate plummet to sub 4%.   Columbus commercial real estate agents in what little we have to sell here that’s newer, single tenant, net leased, credit tenant are seeing asking caps in low to mid 5% range.

First, what does investment grade or national credit really mean when coupled with single tenant, triple net ? The commercial real estate flavor du jour is a retail, single tenant, single parcel with national credit – meaning S&P BBB or the Moody’s equivalent, Baa3 or higher, long, triple net (NNN) lease. What they are really asking for is an absolute net or bond lease where there are no landlord day to day responsibilities.

But what do these acronyms really mean – NN, double net, NNN, triple net, bond lease, absolute net, modified gross and etc.? Regardless of what the seller or listing agent labels the lease, it is imperative to read the lease thoroughly at the earliest opportunity and have a real estate attorney licensed in the state where the property is located, review the lease. Remember, the devil’s in the details. Also keep in mind that the perfect lease doesn’t exist.

Back to the flavor du jour that I mentioned in the third paragraph – approach the analysis of a triple net leased investment with the idea that the buyer is purchasing the lease rather than the building and land.

Because definition of triple net leases differs, be sure you understand what’s in and what’s not in the lease. Get your hands on the lease as early in the process as possible to save time and money later. If you can get it prior to making the offer or in the offer counter offer stage, that’s even better. Best to find that one paragraph that knocks the property out of contention before you start spending money on due diligence such as inspections, surveys and appraisals.

A net lease generally refers to an arrangement where the tenant pays all or almost all of the property’s operating costs in addition to rent. There are a number of gradations of a net lease so I’ll cover the broad categories from strongest to weakest.

Bond or Absolute Net Lease. The tenant is responsible for everything – all operating expenses, maintenance, repairs and replacements for the building and site without limitation without limitation.

Triple Net (NNN) Lease. These leases follow the above except that capital expenditures, especially toward the end of the lease, are the landlord’s responsibility. You commonly will see leases that are labeled triple net are in fact double net in that the landlord is responsible for roof and structure. As I’ve said above a few times, read the lease and have a real estate attorney licensed in the state where the property is located review the lease.

Double Net (NN) Lease. Follows the above except that landlord is responsible for structural components of the building such as roof and load bearing walls, but also could include parking lot, plumbing and electrical.

Modified Gross Lease. The tenant pays its own utilities, interior maintenance, janitorial, small repairs and insurance and the landlord pays everything else.

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 or most of these developments.

1055 N High http://www.columbusunderground.com/apartment-building-with-smart-car-only-parking-pushes-the-envelope-in-short-north for example pushed the envelope locally with micro car parking only. Also in the short north, the Jerome has begun. In Grandview Yard, the Wagenbrenner project, Pullman Way http://www.columbusunderground.com/new-homes-and-townhomes-planned-for-grandview-heights is also in the oven. Neighborhood Launch http://www.columbusunderground.com/the-neilston-apartment-building-to-break-ground-in-spring is getting started.  We have over 1,000 Columbus commercial Realtors and this is great new to all of us for very obvious reasons

Take a look at the following link to take a tour of Columbus commercial construction with Walker Evans

http://www.columbusunderground.com/construction-roundup-september-2015

Of course, if you need a Columbus Commercial real estate agent for a triple net retail or restaurant space or to purchase a building, I would be happy to talk with you.  Call me, Scott Harris at 614-905-6614.

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 a number of retailers and services looking at setting up shop in Olde Town East.  Look for major gentrification and revitalization of this area in the next ten years.

The Nationwide Insurance complex at Grandview Yard  will be ready for occupancy by the end of 2015.  Expect new net leased retail and restaurants all around the Nationwide buildings.   Get in line early if you want to be part of this.  Contact me, Scott Harris Realtor at 614-905-6614 for information regarding leasing.

Next largest project is the 11 new buildings for student housing at Ohio State University’s north campus.  Again, as with the above two, expect plenty of retail plus fast food and fast casual restaurants to serve the new demand.

View on Fifth still has a couple of street level opportunities left.  One is 1645 square feet and that should meet the needs of many small retailers looking for space in Grandview Heights.

As far as land area is concerned, the largest project is the Scioto Riverfront restoration, well underway for the entire length of the river through downtown.

Lastly, Walker Evans has provided updates on the many new and reutilization residential projects in and around downtown Columbus, from Jeffrey Park, Grant Park, Bishop Walk, View on Fifth, Harrison Park and many others.

Stunning progress for downtown Columbus.

http://www.columbusunderground.com/construction-in-columbus-august-2015

 

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

columbus easton retail building for leaseWhole 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 first store in the Dayton area last month.

The Easton Whole Foods will be a little different in that it will also have.

A fresh juice bar

Coffee bar

Outdoor patio and fire pit

An open seafood department

in-store bar with local beers, cocktails and wine.

The Columbus and Central Ohio triple net retail market is doing swimmingly. There’s plenty positive absorption in the market and lease up is fast. We still need fast casual and polished casual restaurant space in many areas of the city.

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

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 by holding companies across counties in the US varied from a high of 9,600 in Harris County-TX (Houston) to a loss of 2,600 jobs in Fairfax County-VA (Washington DC). “Holding Companies” includes the owning or management of other operating companies (NAICS 55: Management of Companies and Enterprises).

Out of more than 1,100 counties with holding company economies, the Top 5 job creators also included Dallas County-TX (Dallas), Johnson County-KS (Kansas City), Franklin County-OH (Columbus), and Dane County-WI (Madison).”

By larger ‘holding companies’, they’re referring to companies the size of Nationwide, Cardinal Health, Limited, etc., as defined by the Bureau of Labor Statistics.

columbus commercial real estate for sale or lease