THE WEEKLY REVIEW | March 28, 2025

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

Industrial - Cold Storage Facility to be Constructed Near Rickenbacker International Airport

“A cold storage facility for food and beverage manufacturers is planned in the area of Rickenbacker International Airport. Sansone Group, a St. Louis-based commercial real estate firm, will develop the 212,000-square-foot facility on an 18.6-acre site at 5600 Groveport Road. The company acquired the property for $550,000 in January, according to the Franklin County Auditor. The project is being developed in partnership with Cincinnati real estate investment management company Clous Road Partners.”

2

Office - Price of Miranova Place Office Tower Unveiled

“A 12-story office building at 2 Miranova Place sold for nearly $13.2 million, according to Franklin County property records. Two investment firms, Michigan-based Douglas Capital Partners and Columbus-based Allied Capital and Development, closed the deal for the 243,177-square-foot downtown building last week. A purchase price was not disclosed at the time. Ross Lanford, managing partner and co-founder of Allied Capital and Development, previously said his company bought it at a price point that will allow improvements to the property.”

3

Retail - Florida Real Estate Firm Acquires 7 Columbus Retail Centers

“Seven Columbus shopping centers have been acquired by a Florida real estate firm. American Commercial Realty Corp. (ACR) purchased five east Columbus properties and two in the Northland area. The centers, measuring a combined 215,000 square feet, were part of multiple transactions. The firm bought the South James Road, 1931 E. Dublin Granville Road and 5156 E. Main St. centers for a total of $9.7 million, according to the Franklin County Auditor. The other transactions have yet to be recorded on the auditor's website.”