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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1
“Franklin County will receive more than $6 million of $61 million in funding for Ohio roadway safety improvement projects in 16 counties, including the first pedestrian bridge to cross the Interstate 270 outer belt planned in Hilliard along with a shared-use tunnel there. The funding, part of the Ohio Department of Transportation’s Highway Safety Improvement Program, includes 17 new roundabouts, restricted U-turns, new sidewalks, and the first-of-its-kind pedestrian overpass over I-270, all intended to improve safety. ‘Safe roadways are essential to connecting people and businesses across Ohio,’ Gov. Mike DeWine's office said in a prepared release. ‘With the investments made in these projects, we will help save countless lives on Ohio’s roads.’”
2
“As the central business district continues along the shaky path toward recovery from the Covid-19 pandemic and the lingering work hybrid work trend, the office vacancy rate in downtown Columbus sits at 15.2%, a slight increase from earlier in the year, according to a new report from Colliers. But that rate is lower than the region as a whole, whose vacancy rate is 18.7%, according to Colliers data. Colliers has also released its look at which downtown towers have the highest vacancy rates.”
3
“Intel Corp. is still years away from opening its $20 billion semiconductor campus in New Albany, but it's already attracting potential suppliers to the region. That includes Danish company DSV, which will occupy 1.2 million square feet at New Albany Tech Park near the Intel site. The global transportation and logistics firm cited the growth of the region's semiconductor industry as a big factor in its decision to launch its first operation in Central Ohio — a point that was reiterated by DSV North America Solutions President Mike Marlow. ‘The work going on in Central Ohio and in the New Albany area specifically around the semiconductor business, whether it be Intel or other businesses in the area, certainly was of interest to us.’”