Colliers | Columbus
THE WEEKLY REVIEW | April 14, 2023
Keeping up with CRE trends is as easy as 1-2-3 with our weekly piece! The Weekly Review is a new blog series that will be released every Friday. The market is constantly growing and adapting to new ventures and ideas, and our goal is to provide up-to-date information into what is happening in both the Columbus and U.S. markets, as well as the commercial real estate industry as a whole. As stories evolve, the Weekly Review will continue to follow along and update our clients and community.
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Growth - Intel and Honda Among Manufacturers Announcing New Projects for Ohio
“Look no further than Grove City to see just how manufacturing is back in vogue in Ohio and the United States, where a startup company has turned a warehouse into a factory that makes nitrile gloves, a product that the U.S. has largely depended for decades on Asia to make. The official opening of the American Nitrile plant at 3500 Southwest Blvd. comes as part of a surge of new factories or expansions that have been announced over the past year or so for the state, including Intel, Honda, Abbott, and Ford. It's putting renewed attention on a critical sector of the state's economy and highlighting the push to re-shore manufacturing that has been exported in past decades”.
Construction - Intel Prompts AEP to Eye New Transmission Lines in Licking County
“AEP Ohio wants to bolster its transmission system in Delaware and Licking counties in anticipation of energy-intensive businesses such as Intel moving into western Licking County. The power company says additions to the grid are necessary to connect new customers and maintain reliable electricity for customers in the area. AEP Ohio has scheduled two open houses in early to May to get community feedback to potential routes for the project. AEP Ohio says the project to upgrade the grid is necessary to support economic development in the region and maintain reliability for customers in Jersey Township in western Licking County where Intel is investing $20 billion to build two factories and more electricity-hungry data centers are planned."
Retail - Bubbly Food Hall Ready to Open New Albany
The project, the first local effort from Granaz Group, has been in development for more than a year. The consumer-focused space is a first for Granaz Group. The firm has designed and built office projects in Northeast Ohio, including the 54,000-square-foot, four-story Signature of Fairlawn office and the 22,000-square-foot Emerald Center offices in Summit County. The firm has offices in Westerville and Fairlawn. Ethan Shajie, Granaz's business strategist, previously told Columbus Business First the firm wanted to feature a diverse selection of world cuisine at the New Albany-area spot.