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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“Columbus Mayor Andrew Ginther says Central Ohio's housing shortage has risen to "crisis" level.”
"Our community is growing faster than we've ever grown before. And so we have to do things differently to get the number of units built that we need," Ginther said in an exclusive interview. "Our quality of life, our affordability and, frankly, our economy are at risk."
“Columbus added 14,000 jobs over the last year but only 8,900 units of housing in the same period, according to city data.”
“Powell Center shopping mall and the former Giant Eagle store in Lewis Center have been acquired by a New York-based joint venture that is planning a major redevelopment project.”
“DLC and DRA Advisors bought the properties at 9009 Columbus Pike and 55 Meadow Park Ave. with the intention of adding new national tenants to the mix of existing businesses. The shopping center currently includes several large retailers such as Marshalls, HomeGoods, Michaels and Staples, but the entire complex is only 53% occupied. Giant Eagle vacated its space there in 2021.”
“The former marketing chief for Root Insurance Co. pleaded guilty Tuesday to embezzling more than $10.2 million from the Columbus startup.”
“Brinson "B.C." Silver, 43, entered the pleas in federal court in Columbus to one count each of wire fraud and contempt of court, according to a release from the U.S. Attorney for the Southern District of Ohio. As part of the plea, Silver agreed he owes $10.2 million in restitution. He also faces a potential prison sentence of 2 years to 4.25 years, the release said.”
“The plea agreement was entered at a Tuesday arraignment for a superseding bill of information, according to the U.S. Attorney's office.”