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  • Writer's pictureColliers | Columbus

THE WEEKLY REVIEW | June 23, 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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1

“As the Continental Plaza in downtown Columbus heads for auction, those watching the market are keeping a close eye on what could happen to the building after it sells. The 34-story tower at 180 E. Broad St. is in the process of foreclosure, with a receiver appointed and a sheriff's sale of the building scheduled for July 7 at 9 a.m.


According to local court filings, three appraisers found the building is worth about $18 million, a significant decrease from $22 million from when its mortgage was originated in 2013. That loan matured May 1, at which point the remaining balance was greater than the $14.7. million it had most recently appraised for.”


2

Honda and LG Energy Solution have hit a milestone for the electric vehicle battery plant they're building in Fayette County near Jeffersonville, putting up the first steel beam for the factory that will create 2,200 jobs.”


“‘There are many beginnings when you form a new company to build a new facility, but today is an important milestone for the LGES-Honda team, for the local community and everyone working at the site to create our new EV battery facility,’ Bob Lee, CEO of the joint venture, said in a statement. Construction is on track and we look forward to reaching many more milestones on the way to starting production of EV batteries in 2025.’"



3

Central Ohio residents will get their first peek at a new-look Walmart this week. The retailer is in the midst of a $225 million remodeling push through the state. The first local store in that process has been open throughout the renovations but will mark its grand opening Friday.”


The 200,000-square-foot store at 5200 West Pointe Plaza off Hilliard-Rome Road is getting a facelift; new lighting, flooring and signage; an expanded apparel offering and a dedicated hub for pickup and delivery orders, among other upgrades.”

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