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  • Halle Smith

THE WEEKLY REVIEW | June 30, 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

“Amazon is poised to make the second-largest private sector investment in state history, announcing Monday that it will spend an estimated $7.8 billion over the next six years to build data center operations in central Ohio. Only Intel's $20-billion investment to build two semiconductor factories in New Albany is bigger.”


"‘Amazon is already one of the largest private-sector employers in Ohio, and the company's continued growth here further cements Ohio as the heart of our nation's technology and innovation,’ Gov. Mike DeWine said in a statement. ‘As more of the world relies on cloud computing, this investment will build on Amazon's current infrastructure in Ohio to help new and existing businesses grow, allow residents to securely connect to friends and family, and provide access to online educational resources and entertainment.’"


“Amazon did not say how many data centers it will build, or where they will be built. A single data center can cost at least several hundred million dollars. The state says Amazon is considering numerous locations. The Dispatch reported in January that Amazon bought nearly 400 acres along Beech Road NW near the Intel site in New Albany for $116.6 million. It has not released any plans for the site.”


2

OhioHealth wants to permanently close part of 6th Street in downtown Columbus to support its expansion of Grant Medical Center. The Downtown Commission approved a request from OhioHealth to endorse the road closure from Chapel to Town streets before it goes to the Land Commission. The health system will still come back to the Downtown Commission for approval of its final project design.”


“OhioHealth Corp. announced a $400 million inpatient, outpatient and trauma center expansion at Grant Medical Center in February. They plan on adding a medical office building and critical care pavilion. Closing that part of 6th Street would allow OhioHealth to connect the new critical care pavilion to the existing hospital building.”



3

Intel Corp. and the state of Ohio have finalized a $600 million onshoring grant agreement for the company's semiconductor manufacturing campus in Licking County. As part of the grant agreement, $300 million is available for construction of each of the two chip factories set to be completed as part of the initial phase of Intel’s $20 billion investment in New Albany. Funds will be available for two years after construction begins on each facility. They must be completed by Dec. 31, 2028.”


“‘This project is important for our economic and national security because it will allow computer chips to be manufactured in America again,’ Ohio Lt. Gov. Jon Husted said in the release. ‘Ohioans are going to be the economic winners as we bring a new industry to Ohio with a supply chain that will create tens of thousands of high-paying jobs.’”

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