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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“Cardinal Health is starting construction on a 350,000-square-foot Columbus distribution center to supply retail pharmacies – its third new Central Ohio facility in two years. The center will create more than 100 jobs and move $250 million in consumer products monthly, according to a job listing for facility director, who will have a hand in the design.”
“The new Consumer Health Logistics Center, which will incorporate the automation and more efficient workflows built into Cardinal's newest facilities, is expected to open in 2025. The facility will be located at 9560 Heartland Ct. in the Rickenbacker Global Logistics Park; the company did not disclose a price tag.”
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“The owner of the Idea Foundry and the newly developed Gravity Park is seeking to sell both properties, adjacent to one another in Franklinton. Kaufman bought the Idea Foundry two years ago with plans to update and enliven the 50,000-square-foot ‘makerspace,’ occupied by manufacturing facilities, offices, event space and workshops. The Idea Foundry is being sold with Gravity Experience Park, sort of an adult playground that Kaufman developed last year on a parking lot next to the Idea Foundry. The park opened in November with an ice rink with bumper cars, two heated tents for drinks, places to congregate and a grand entrance made of stacked shipping containers. The activities were expected to expand this summer with a pickleball court.”
“The park, which is managed by Land-Grant Brewing Co., will continue as usual, a Kaufman representative said. Brett Kaufman, the CEO of Kaufman Development, didn't say why he was selling the properties so soon after investing in them. ‘We feel we’ve been good stewards of this property and enhanced its value,’ he said in an emailed statement.”
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Housing/Multifamily - New Columbus Zoning Code Would Allow More Housing, Remove Parking Requirements
“A new zoning code that could be adopted by Columbus City Council would allow for the addition of 88,000 new units to key city corridors – more than 14 times what current zoning would allow. The proposed zoning overhaul impacts about 12,300 parcels, about 950 of which are single-family homes. The legislation and maps will be introduced at Columbus City Council on Monday, kicking off a 60-day public review period.”
“Monday night the council will consider legislation that gets the public review period rolling, but a vote on the code itself won't come until the summer. Columbus unveiled maps of the key corridors that this zoning code rewrite would address in 2023. The city has been working on this project since 2021, when it engaged consultants to assess the current zoning code.”
