THE WEEKLY REVIEW | OCTOBER 20, 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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“Sublease space in Central Ohio skyrocketed during the pandemic, and as companies are still navigating their return-to-work plans much of that office space is still on the market.”
“The majority of available sublease space is in Dublin, Easton and New Albany, according to the data from Colliers. Those three submarkets combined have 1.3 million square feet of sublease space available.”
“Here are the 10 largest sublease spaces available in Central Ohio:”
“The Ohio taco chain, which originally opened in Delaware before expanding to Powell, Dayton, Xenia and more, is coming to Columbus proper for the first time.”
“'Coming soon to Columbus,' a post made to Victor’s Instagram account, alongside a photo of the new store on Oct. 13 reads.”
“Victor’s new location will be the chain’s second new central Ohio store this year. In February, the eatery opened a restaurant located at 3450 O’Connell St. in Powell.”
“New Albany is in line for more data centers after its city council approved an incentive for a Kansas-based company that will build several of these facilities for future end users.”
“The first site, located at 1225 and 1275 Beech Road SW, will include two data centers and related buildings for administrative offices. The facilities will total 884,600 square feet and will be built on 56 acres.”
“The projects are expected to begin construction in March 2024, and have an estimated completion date of March 31, 2025. Each center will create five full-time jobs by March 31, 2028. Those 10 positions have a combined annual payroll of $750,000.”