Category Archives: Ohio

Columbus Ohio – Rust Belt Becomes Recovery Belt

Steve Steinour who coined the term ‘recovery belt’ after arriving in Columbus five years ago to head up then struggling Huntington Bancshares.  I think he’s been thoroughly impressed with the breadth and depth of not only Columbus and Central Ohio’s recovery , but Ohio as a whole. “We had our challenges, to be sure –…

March 2014 – Commercial Construction Update for Columbus and Central Ohio

I’ll link shortly to Walker Evans at Columbus Underground for his summary of the current progress of Columbus commercial real estate for sale and lease. True, the weather has had huge effect on many of these projects, but now that hopefully it’s getting warmer, there will be much progress in the coming months.  We sure…

Proposal for High End Single Family Homes for Northwest Columbus’ Riviera Golf Club

Developer Charlie Ruma with Davidson Phillips Inc. proposed zoning changes to Dublin’s Riviera Golf Club.  The developer wants the golf club rezoned to single family housing was met with fierce opposition from NIMBYS last Thursday night at the Dublin Planning Commission meeting. Backed by a rather loud group of 150 from a group named Friends…

Greater Columbus Convention Center to Get Facelift

One big weakness in Columbus that hasn’t been addressed yet is the dowdy convention center.   And here we are trying to attract the 2016 GOP National Convention or even the DNC?  With what? Cleveland just completed a half billion dollar new convention center.  Indianapolis just invested $275 million in theirs.  Nashville just opened their $600…

Westerville Planning Commission Turns One Down

On February 26th , the Westerville Planning Commission voted down by  4 – 2 a proposal from Romanelli and Hughes for rezoning a 23.6 acre parcel at 645 and 655 N State from Rural Residential to Planned Neighborhood District. The project was going to be a mixed multifamily and single family development of a 141…

New Gourmet Donut Shop Across From OSU Student Union

columbus net leased retail

Thanks to Columbus Underground, I found something I probably should stay away from.  Thankfully, at 1716 N. High, it’s a long way away from me in Westerville so I’m likely safe.  It’s right across the street from the Ohio State University Student Union next to the Newport.  Its hours at 9:00 AM to 4:00 PM…

Owner User Commercial Real Estate Making a Comeback

Well into the early stages of a recovery, companies seeking to raise funds will sell their property to investors and lease back the space.  However, lately, with increased financing options and a constrained supply available companies are warming to the idea or owning their commercial real estate once again. I’m seeing this with Columbus commercial…

Columbus and Central Ohio Employment Forecast for 2014

Columbus and Central Ohio can expect job growth far above the average in Ohio and above the national average.   The region is expected to add 18,200 jobs this year, which is a gain of 1.9 percent according to Bill LaFayette, owner of the Regionomics consulting firm.   He also says that this is his strongest forecast…

Columbus Short North, triple Net Retail Restaurant Tenant Signs Early for Fireproof Records Project

The Columbus based pizza chain, Pies and Pints, has leased 4,500 square feet of Columbus commercial retail real estate  at 1024 N High in the Short North. The Short North was on the wish list for Pies and Pints since Rob Lindeman and Lexington, Ky.-based Blue Fire Capital bought the existing two-restaurant chain in 2011.  The…

2013 Commercial Real Estate Review

It’s that time of the year again when everyone and their mother posts their yearend review for 2013 and/or forecast for next year, 2014.  I’m not going to do that, but instead linked is Deloitte’s 2014 commercial real estate forecast, which is long, detailed and usually fairly accurate.  I will summarize and editorialize a bit…

Westerville Commercial Real Estate Client Need – Restaurant Use

Client need for Westerville commercial real estate for lease of 1,500 to 2,500 square feet for new original themed restaurant use.   Triple net, NNN, is fine.  Needs to be eligable for D3 liquor permit. Prefer retail commercial property on State Street from Walnut Street to Home Street in the Uptown District.  Client willing to sign…

More High End Residential Apartments for the Columbus Area in Upper Arlington and New Albany

First is Berkley House at Bethel Road and Riverside Drive. Westerville Developer, Preferred Living, has announced a 256 multifamily unit four story apartment complex to built on a 9.7 acre assemblage of seven parcels in Upper Arlington south of Strader’s Garden Center  and just south of where Bethel Road meets Riverside Drive. This is the…

Dublin Ohio Bridge Street Corridor Development Update

Bridge Street Corridor, Dublin Ohio

Crawford Hoying unveiled plans to invest upwards of $300,000,000 in a mixed use 25 acre development along the Scioto River and Riverside drive in Dublin, Ohio’s 1,200 acre Bridge Street Corridor project.  The project will stretch from Sawmill Road to Franz along Dublin Granville Road. The Crawford Hoying portion of the overall development will encompass…

Big Box Retail Goes Small Box

Walmart Market Center

We’re accustomed to seeing 180,000 – 220,000 square feet Walmart Super Centers all over the country over the last couple of decades, but many communities fight tooth and nail to keep net leased retail of this size out of their communities. The big box large triple net retail market is morphing a bit to address…

New Apartment Complex for Northwest Columbus at Bethel and Olentangy River Road

Former K-Mart sight will be redeveloped by Taylor House LLC into a 325 unit apartment complex. Taylor House LLC, an affiliate of Preferred Living based in Westerville bought the 11 acre site in Olentangy Square Shopping Center less than a month ago as part of a deal when they acquired the Wendy’s and Tim Horton’s…

Single Tenant Triple Net Retail Investment Property Becoming More Available

As interest rates climb just a bit and cap rates are at what’s likely to be a cycle low, I’m seeing more new or newer developer owned, single tenant, triple net retail or absolute net, national credit, leased investment properties coming on the market.  The availability of construction funding and newly built property coming on…

Columbus and Central Ohio Residential Sales for August 2013

Not only is Columbus commercial real estate for sale doing well, Columbus and Central Ohio residential just had an all time record month for an August and a record year to date. Homes sold as of end of August were up 22.9% as compared to year to date in 2012.  Plus, August 2013 sales of…

Columbus Downtown Update

Columbus has added about 3,000 downtown apartments or condos over the last ten years and the pace of new construction and redevelopment is quickening.   It will take a while to get back to where it was in the 40s and 50s when 30,000 people lived downtown, but I think it will get there. There’s an…

Columbus Ohio Job Growth Ranks high

Columbus ranked 10th best in the country of the 50 largest metropolitan areas according to a recent report by Wells Fargo Bank. Columbus also outranked every other major metropolitan area in the Midwest including Pittsburgh and Indianapolis . Texas cities took four of the top six positions with Austin leading. Columbus added a net 20,000…

New Walmart to be Built on Sawmill Just North of I-270

A new 176,290 square foot Walmart Supercenter is going in just north of Hard Road on Sawmill in what used to be the Olde Sawmill Square retail center that’s been mostly empty and decaying for years. The sale for the 13 acres closed in August 2013, and the Walmart is expected to open for business…