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.
Certain news links may require site registration or subscription to access the complete article.
1
Multifamily - Retail Space for Lease, Major Pieces Coming Together for Continental Centre Conversion
“The redevelopment of a former downtown office tower hit a major milestone ahead of its planned opening next summer. The 26-story Continental Centre, at 150 E. Gay St., is being converted into a mix of studio, one- and two-bedroom units, along with ground-floor retail, an amenity area with a pool on the rooftop and a below-grade gym. The retail space is now being advertised for lease. The air handlers and HVAC system for the building are being put onto the roof this week. Some units on the upper floors are taking shape.”
2
“Columbus' office market continues to recover from the Covid pandemic, and as tenants continue to search for space, some downtown towers have more square footage available than others. Office vacancy is down year-over-year in Columbus to about 19%, according to Colliers. In downtown, the vacancy rate is about 15%. There is about 17.9 million square feet of office space total in the CBD. New Colliers data shows which Columbus office towers have the most square footage available in the second quarter of this year."
3
“Brick House Blue is joining Hilliard's TruePointe development. The local coworking company, which is also set to open a New Albany location in December, recently signed a lease for about 15,000 square feet at the Trueman Boulevard site.
It will join Advanced Drainage Systems, Home2 Suites by Hilton and Drunch, which have announced plans in recent months to open there. TruePointe, a $200 million mixed-use project that is being developed by Equity, also will have a 360-unit apartment complex. Brick House Blue's Hilliard location will have three meeting rooms, 22 office suites, phone booths and huddle rooms. The largest meeting room will hold up to 150 people. Dave Mirgon, Brick House Blue's co-founder and chief ideation officer, said the company will invest between $2 million and $2.5 million in the new location, which will be its fifth in the region. In addition to the sites in Hilliard and New Albany, it has two offices in Dublin and one in Plain City.”
Comments