THE WEEKLY REVIEW | August 4, 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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“The retail tenants at Thrive Cos.' Founders development in the Harrison West neighborhood are gearing up to open this fall. First announced in 2018, the Founders project is set to include 11,000 square feet of retail space, 348 apartments, 28 townhomes and 20 flats. The apartments have been finished for over a year, the retail is being built out now and some townhomes and flats are still to come. One 3,500-square-foot retail space remains available, but the rest of the retail space will be occupied by Thrive's own coffee shop/bar concept, Bada Bean Bada Booze, and The Athletic, a gym.”
“The Merchant Building development rising in the North Market parking lot will cost $430 million, according to the city of Columbus. That's up from $345 million as of late 2022, the most recent publicly shared financial total, which itself was an increase from prior iterations of the project. Columbus Development Director Michael Stevens shared the new project cost with Columbus Business First. A spokesman for project developer Rockbridge confirmed the new project cost, but couldn't speak further about the increase.”
“The fits and starts over the decades of trying to build a market for electric vehicles in the U.S. may be ready to finally pay off, says a key executive of one of the world's biggest battery companies, which has partnered with Honda in Ohio and other automakers to build batteries to power those vehicles. ‘The (automakers) are highly committed at this point and the products will be there," Robert Lee, who leads LG Energy Solution's operations in North America, told The Dispatch. "Nobody know 100% exactly how much the market they will penetrate (or) how fast.’”