Colliers | Columbus
THE WEEKLY REVIEW | January 27, 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.
Certain news links may require site registration or subscription to access the complete article.
Industrial - 'Ohio One' is Intel's New Semiconductor
“Intel Corp. has an official name for its semiconductor manufacturing campus in New Albany: Ohio One. The tech giant announced the name to mark the one-year anniversary of the $20 billion project's announcement.”
“Intel said the name pays homage to Ohio's ‘long and storied history in manufacturing and its track record of producing firsts, from the Wright brothers, who grew up in Ohio and first envisioned their historic planes here, to John Glenn, the first man ever in orbit, and Neil Armstrong, the first man on the moon.’"
Office - Huntington's Return-to-Office Call
“Central Ohio businesses are preparing for an economic downturn, alongside continuing challenges such as housing and traffic, the same way they helped the region win Intel: Together, the co-leader of the Columbus Partnership said.”
“Many of the region's companies – Huntington Bancshares Inc. among them – turned in strong financial performances in 2022 that put them in good shape to weather this year, Huntington CEO Steve Steinour said.”
New Development - Bridge Park Expansion Plans
“Bridge Park, the seven-year-old Dublin development on Riverside Drive and Rt. 161, would significantly expand to the north under a plan from a Columbus developer. Plans submitted to the city call for adding an eight-story, 147-room hotel with ground-floor retail; a six-story office building with retail; a five-story, 800-car parking garage; and two buildings, eight- and nine-stories, that would contain a total of 169 residences.”
“The development, dubbed Indus Bridge Street, would continue the Bridge Park street grid, but would not be done by Bridge Park's primary developers, Crawford Hoying. Instead, the Columbus hotel firm Indus Companies is proposing the expansion.”