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  • Writer's pictureColliers | Columbus

THE WEEKLY REVIEW | June 28, 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.


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1

“Construction is scheduled to start this fall on a mixed-use project at the former Lucent Technologies campus in east Columbus. The 63-acre site is being redeveloped into an industrial and multifamily project. There are also commercial parcels that could be sold and developed. Boston-based Trident Capital Group bought the former telecommunications equipment company complex in 2012.“


“Trident has plans to develop a speculative 191,000-square-foot warehouse, with the potential for a second 185,000-square-foot warehouse in a future phase of development. Elford Development will develop a 240-unit apartment building next door. Of those, 10% of the apartments will be held at 60% of the area median income and 10% at 80% AMI. Plans have been in the works for this mixed-use project for years."


2

“A developer of "hyperscale" data center campuses that recently raised $9.2 billion for global expansion plans to add to New Albany's cloud computing boom. Vantage Data Centers plans a $185 million project at 3475 Horizon Ct., according to One Columbus and the Ohio Department of Development. That's inside the new tech-and logistics-focused Silicon Heartland Innovation Park. Based in Denver with a Silicon Valley office, Vantage develops and operates 25 large-scale data center campuses across five continents. Its clients include cloud computing providers and corporations.”


“The company closed a $9.2 billion equity round this month led by DigitalBridge Group Inc. (NYSE: DBRG) and Silver Lake, according to a news release. "This new funding from the world’s leading digital infrastructure and technology investors, along with numerous co-investors, is a game-changer that uniquely positions Vantage to capitalize on the incredible AI and cloud opportunity in front of us," CEO Sureel Choksi said in the release. Silver Lake founded Vantage in Santa Clara, California, in 2010, the Denver Business Journal reported."


3

“The Columbus College of Art and Design's latest project is moving forward. CCAD plans to turn Battelle Hall into a new Center for Creative Collaboration. The existing building will get interior renovations and technology updates, while a two-story, 10,000-square-foot addition will be built on the adjacent parking lot. An urban park also will be added as part of the project. The Downtown Commission approved the design at their meeting on Tuesday, clearing the way for the project to begin this year.”


“The Center for Creative Collaboration project is expected to cost about $15 million. Costs not covered by a CCAD fundraising campaign will come from other college funds, including the sale of 161 N. Grant Ave. to the Columbus Fashion Alliance, CCAD President Melanie Corn previously told Columbus Business First. Construction could start during the upcoming academic year and students could be in the new building by January 2026. There are plans for updated wood shops, digital fabrication labs, teaching spaces, a collaboration hub and more in the Center for Creative Collaboration. The park will be available for students, faculty and the public.”





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