THE WEEKLY REVIEW | April 21, 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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“Easton Town Center is set to welcome three new retailers to its lineup of stores, restaurants, and attractions. Three new brands, Alo Yoga, FOUNT and Jo Malone London, will be offered exclusively in Columbus when they open at Easton later this year. Easton Town Center continues to evolve, with several new stores and restaurants, including brands new to Columbus and Ohio, opening in the last year. The center is also set to open a new fine-dining Mediterranean concept from Cameron Mitchell Restaurants in the former home on Bon Vie, while a trendy new steakhouse, Cut 132, opened earlier this year."
“The percentage of venture-backed startups renting office space has risen sharply – but the share of their overall expenses that they pay in rent on average has fallen by more than half, from 7% to 3%. That’s the finding of an analysis by Kruze Consulting, a San Francisco-based CPA and finance consulting firm for VC-backed startups. As of December 2022, 59% of the 750 companies studied were renting office space — not too far off the 65% share in January 2020, and well above the 36% that did so at the start of 2021. However, the share of rent as a percentage of their overall costs consistently declined during the Covid pandemic."
“A new commercial real estate brokerage firm has entered the Columbus market. Baton Rouge, Louisiana-based Elifin opened a Columbus office last month. Elifin provides brokerage services in office, industrial, retail, multifamily, land, medical and investment property sale and lease transactions. Heading up the new Columbus office is Keagan Finley, senior vice president at Elifin. The move to Columbus was partially personal, for Finley's family, but also because of the rate at which Columbus is growing, Finley said. Finley said with major investments from Intel Corp. and Honda on the horizon and other recent economic development wins, Columbus seemed like the best place to expand Elifin. Having a Midwest location driving distance from other large cities was also attractive, he said."