THE WEEKLY REVIEW | June 16, 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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“Construction has started at Reynoldsburg's Eastwood development, which will eventually include more than 600 residential units and 14 acres of commercial space on the city's east side. Master developer Joe Ciminello of Ciminello Land Co. told me the $170 million project — located between East Main Street and Summit Road — has completed the bulk of underground utility work and is getting started on roadway paving this week. That marks an important step for the project, which has been in the works for more than two years."
“A Groveport retail center has been sold. The property, located at 3770-3800 S. Hamilton Road, was purchased by Jatinder Singh Sethi and Preet Mohinder Singh Longia for $3.2 million, Franklin County property records show. The site includes a 6,400-square-foot building anchored by Starbucks and Pizza Hut. The one-story building was built in 2020 and sits on roughly 1.4 acres, according to the Franklin County Auditor. Located on the northern edge of Groveport, the site is near several other restaurants and retailers such as McDonald's, Rally's, Raising Cane's Chicken Fingers, O'Reilly Auto Parts and Chipotle Mexican Grill."
“Ohio manufacturers are trying to figure out how to fill an expected 25,000 electric-vehicle-related jobs by 2030, and the state has come up with a strategy to help. Lt. Gov. Jon Husted released the strategy — Supercharging Our Electric Vehicle Workforce: A roadmap for unlocking the future of advanced manufacturing — Tuesday morning at Mahoning County Career and Technical Center in Canfield, Ohio. Making the announcement in Mahoning County was a calculated move. "Voltage Valley," loosely defined as the region surrounding the cities of Warren and Youngstown, is emerging as a center of EV and battery manufacturing and could be Northeast Ohio's best bet for participating in the movement toward electrification, experts say."