IREM® FORECAST EVENT RECAP

The 2025 IREM® Columbus Annual Forecast Event brought together leaders from life sciences, economic development, real estate investment, brokerage and property management. Two panel discussions and a keynote address from Spencer Levy offered a forward-looking perspective on Columbus’ competitive landscape and the operational strategies that will shape the coming year.

Panel 1: Ohio's Competitive Position and Life Sciences Growth

Moderated by Rich Schuen of Tenby, the first panel included Eddie Pauline of Ohio Life Sciences, Frank LaRock of JobsOhio and Jennifer Chrysler of the City of New Albany. Together, they outlined why Central Ohio continues to attract national and global corporate interest, particularly in the life sciences sector.

Jennifer Chrysler commented that New Albany's growing cluster of life sciences is the result of an intentional cultural alignment with industry partners and a regional environment that large companies can count on for stability. Eddie Pauline added that life sciences continue to be one of the most powerful long-term drivers of economies, but the field requires a high level of funding and complex regulatory approvals. Frank LaRock mentioned that Central Ohio's diverse economy, along with strong educational institutions such as The Ohio State University and regional career-technical centers, produces an active pipeline of talent, continuously attracting new employers. All three panelists emphasized that the collaboration among municipalities, universities, industry, and economic development organizations at the core of Columbus' success will continue to be required as competition for corporate investment continues to heighten.

Panel 2: Leasing, Operations, Capital Strategy, and Workforce Development

Moderated by Arianny Damian, RMS, CMS of Thompson Restoration Associates, the second panel was made up of Molly Leach from CBRE, Kimberly Krzemien of Drucker + Falk, Mykle Basha of Paradigm Properties Ohio and Michelle Fude of Allied Real Estate Advisors. Their discussion focused on the operational discipline and capital planning necessary to thrive in today's changing commercial real estate environment.

Mykle Basha and Michelle Fude emphasized that strong asset performance depends more on consistent reinvestment into building systems such as HVAC and fire protection, rather than whether the property sits within an urban or suburban market. Kimberly Krzemien detailed the difficulties facing multifamily leasing in the urban setting, where renters evaluate everything from commute time to lifestyle needs, to neighborhood experience. Molly Leach made the important point that a real estate decision about a healthcare office impacts greater community dynamics, encouraging pros to stay highly attuned to clients. The panelists all agreed that alignment between brokers and property managers was vital because when making decisions on items such as tenant improvements, spec suites, or where to focus maintenance dollars, both teams are ultimately using the same financial resources. They also discussed how mentorship/training of the next generation is key, and the use of AI as a means of automating routine duties to free up teams to think about strategy and the quality of service. Indeed, the panel concluded that lower asset pricing is an opportunity for fresh capital and repositioning strategies, not a market setback.

Keynote: Spencer Levy

Keynote speaker Spencer Levy, Global Client Strategist and Senior Economic Advisor, led an energetic presentation in which he tied current commercial real estate themes to famous Beatles songs. The advice Levy imparted was to stop getting bogged down by the macroeconomic uncertainty and instead pay attention to micro fundamentals. Emerging opportunities in investment include outdoor industrial storage, Levy said, with low-supply assets often yielding outsized valuations. Levy emphasized the ongoing role of the physical workplace as a cultural, mentorship and collaboration hub. Levy also predicted declining interest rates could unlock new investment activity as lenders and buyers become more confident.

Overall Outlook for 2026

A common refrain emerged from all dialogues: organizations cannot wait for the capital markets to get better but need to rely on sound operations. The Columbus region heads into 2026 with key strengths in place, including a burgeoning life sciences sector, aligned public and private leadership, a rich talent pipeline and a commercial real estate community committed to innovative, long-term reinvestment. These are advantages positioning Columbus for ongoing growth despite broader market uncertainty.