Commercial Retail Market Report 1Q2015 – Central Ohio
Retail market is on the upswing, again
The Columbus commercial retail market started 2015 on a slightly negative note, posting negative net absorption for the first quarter, according to the first quarter report from the Central Ohio Commercial Information Exchange (COCIE).
However this lack of activity is normal for the beginning of the year, as most activity in the retail market typically occurs in the second and third quarters.
What Makes Commercial Real Estate A Good Investment?
There are many ways to invest. But the most proven way of obtaining high returns has been through commercial real estate. This is not just a recent phenomenon – it dates back to the founding of the United States. John Jacob Astor became America’s first millionaire through commercial real estate in Manhattan. And the fundamental reasons that commercial real estate is the #1 investment choice remain as true today as they were in the 1800’s.
Eastland Mall heading back to the auction block
The lender who took the keys of Eastland Mall last summer has put the property back on the market.
The South Hamilton Road retail fixture is being marketed on the Central Ohio Commercial Information Exchange and through Auction.com, where a final live auction will take place March 24-26.
Newmark Grubb Knight Frank agent Benton Benalcazar said the property has a minimum price of $5 million.
Mill Run stays hot with sale of Mill Run Business Center
Columbus Business First
A 16-year-old office building at Mill Run has sold for a healthy price to investors out of New Jersey.
The 99,553-square-foot Mill Run Business Center at 3641-3731 Ridge Mill Drive at Fishinger Boulevard sold for $11.3 million to Atkins Roxbury Associates and Mill Run Investors LLC. Public records show the buyers financed the purchase through a $10.1 million mortgage from Aetna Life Insurance Co.
Is Choosing an Office All About Location, Location, Location?
Is ‘location, location, location’ the most important consideration when determining where to plant your law office’s roots?
There are at least two opposing schools of thought, and experts make valid arguments for both sides. However, two men involved in commercial real estate in Columbus contend location is not of paramount importance, although their reasoning differs. So just where should a lawyer hang their shingle?
Top of the List: Central Ohio’s biggest office buildings
The largest office building in the region is home to thousands of employees who enjoy amenities ranging from a Starbucks coffee shop to a dry cleaner to more than 7,000 parking spots. It was named for a man who was the first to nationally distribute the precursor to the Visa credit card and lived until the age of 97.
We recently published a list of the area’s biggest office buildings ranked by square footage.