top of page
  • Halle Smith

THE WEEKLY REVIEW | JANUARY 19, 2024


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.


Certain news links may require site registration or subscription to access the complete article.


1

“Arlington Gateway, a mixed-use project that has been in the works for several years, is finishing construction and welcoming anchor tenants to the Lane Avenue site.


“The new development, built by Continental Real Estate Cos. and located at 1325-1397 Lane Ave. in Upper Arlington, is almost fully leased. Office users are taking the bulk of the property, which also includes first-floor commercial space and a residential building. Five floors with 135,000 square feet of space in the project's 12-story tower are dedicated to offices. Seven tenants have either moved in or are in the process of doing so.”


“The largest tenant is Northwestern Mutual, which is taking the entire 12th floor and a portion of the 11th floor. AssuredPartners and First Merchants Bank also are occupying a full floor.”


2

“Columbus developers are proposing a 15-story tower on the site of the former Spaghetti Warehouse restaurant on West Broad Street in Franklinton. A partnership that includes longtime Columbus developers the Weiler and Kelley families, along with the owners of the Spaghetti Warehouse chain, submitted plans to the city calling for the demolition of the former restaurant at 397 W. Broad St.”


“In its place would rise a 15-story tower containing 534 apartments, 577 parking spaces and 15,120 square feet of retail/commercial space that could be filled with the Spaghetti Warehouse returning to the site.” 


3

“National chains are accelerating their exit from malls for other types of retail locations, signaling more trouble for malls as consumers show a growing preference for shorter, more convenient shopping experiences. Jewelers, shoe stores and other specialty retailers are among the operators making the shift, indicating they will continue opening at outdoor, non-mall locations such as grocery-anchored shopping centers and strip malls after finding that they perform better and typically save on costs.”


“’These retailers are going to grow more confident that they’re barking up the right tree as they continue to see quarter after quarter after quarter of outperformance in their off-mall locations,’ said Brandon Svec, national director of U.S. retail analytics for data firm CoStar Group.”





24 views0 comments

Comments


bottom of page