Colliers | Columbus
THE WEEKLY REVIEW | April 7, 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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Jobs - Twice as Many Construction Workers are Needed for Areas Manufacturing Boom
“Between Intel, Amgen, Facebook, Google, Ohio State University's Wexner Medical Center and other projects, tens of billions of dollars’ worth of factories, hospitals, data centers and other work are promised for central Ohio in the coming years. Add Honda's move to set up an electric vehicle hub in Ohio, more than $2 billion worth of solar farms planned throughout the state and Ohio's new $13.5 billion transportation budget, and even more union building trade workers will be needed to keep up. One official said union construction workers will essentially need to double in number to keep pace."
Industrial - Iconic Equities Buys Southeast Columbus Warehouse
“A southeast Columbus industrial property has been purchased by a Florida company. Miami-based Iconic Equities, a real estate investment and development firm that focuses on industrial assets, bought a one-story Class B warehouse at 3275 Alum Creek Dr. for $12.7 million. The more than 300,000-square-foot building sits on 10.8 acres and is leased to Faro Logistics Solutions Inc., a third-party logistics provider headquartered in Groveport. The building was built in 1971 and expanded in 1974, according to Franklin County property records."
Office - New Business Park in Delaware
Dublin Building Systems will soon open the first speculative building within the Pittsburgh Drive Business Park. The property is located at 1751 Pittsburgh Drive near the Delaware Municipal Airport in the southwest area of the city. The 9.1-acre site will include four multi-tenant office/warehouse buildings that will total 84,000 square feet. Units range from 1,800 square feet to 24,000 square feet, according to Keith Joseph of RJ Boll Realty, the leasing agent for the business park.
All four spec buildings are currently under construction, with the first to be delivered in June. The entire complex is expected to be complete by Oct. 1, Joseph said.