THE WEEKLY REVIEW | July 28, 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 burgeoning electric vehicle industry is expected to create 25,400 jobs in Ohio by 2030, according to a new state report that lays out a strategy meant to make sure that the state's advanced manufacturing workforce is ready to meet the challenge of making EVs and their components along with the infrastructure to keep the vehicles running. EV investments in the state have topped $8 billion in the past year and a half, led by Honda's move to make Ohio the U.S. hub for its investments in electric vehicles and the batteries that power them. ‘The advent of EVs necessitates comprehensive changes to our power grid, workforce, and production systems, and Ohio is poised to play a significant role in meeting these demands and accelerating their adoption across the United States,’ Lt. Gov. Jon Husted said in the report, released last month at the Mahoning County Career and Technical Center in northeast Ohio.”
“Coca-Cola Consolidated, the global beverage company's largest independent bottler, is building a new distribution and warehouse facility that will replace its existing operation in Central Ohio. The company, housed locally at 4500 Groves Road in the Eastland neighborhood of southeast Columbus, is planning to move into a 400,000-square-foot building at 1489 Rohr Road at Rickenbacker Industrial Center. The 230-acre master-planned industrial development built by Trident Capital Group and O'Connor Capital Partners is located near Rickenbacker International Airport in south Columbus.”
“The newest office building at Thrive Cos. Jeffrey Park development is now pre-leasing. The six-story, 101,000-square-foot speculative office building is expected to be finished by the end of 2024. Matt Negron, director of development for Thrive Cos., said the office's exposure from I-670 could be attractive to prospective tenants. The building will be the first thing many see driving past Italian Village or taking an exit to downtown Columbus. The office building is next to a 490-space parking garage and a 177-unit apartment building, which are also amenities for the office building.”