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
“American Nitrile has purchased its Grove City facility after leasing the massive space for the last two years. The glove manufacturer bought the 3500 Southwest Blvd. property for $21.5 million, Franklin County property records show. The roughly 30-acre site is home to American Nitrile's 530,000-square-foot manufacturing facility, which opened in 2022. The reason why it decided to acquire the building is unclear. Company officials did not immediately respond to a request for comment. American Nitrile announced plans to open the Grove City glove factory in September 2021, the same year the company was founded. It pledged to invest $54.5 million in the project and create 400 jobs by the end of 2024. As of April, 130 people were employed there."
2
“Downtown Columbus' top three performing office buildings are the Encova Building, the Grange Insurance Building and the Hayden. According to a second quarter report from Colliers about the CBD, those three office buildings are performing the best when it comes to net absorption year-to-date. Absorption is the measure of how much square footage has been moved into versus how much space has been vacated. These three office buildings have had major wins this year when it comes to gaining new tenants. All three have been renovated in the past few years, including upgraded tenant spaces, such as a large shared conference room and a roof amenity space at the Hayden."
3
“The developer behind the Riverview Village project in Historic Dublin said plans have been changed to make the mixed-use development more accessible and engaging for the public. A preliminary development plan submitted to the city shows new additions to the project, which is being led by Cohatch CEO Matt Davis. The original idea was to create a coworking and entrepreneurship village – something Davis is familiar with given his experience running Cohatch. That is still the case, but the most recent plan has more public-facing elements that were not included when the project was announced about two years ago.”
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