Commercial Real Estate 101 

Seven Ways to Prepare for an Industrial Property Search Heading into 2022

Alexa Broyles, , , , , , , ,

The landscape for acquiring industrial property has changed dramatically over the past year. After brick-and-mortar retail came to a screeching halt in early 2020 due to the COVID -19 pandemic, online purchases soared, and since then, retailers have been leasing the existing industrial warehouse space in Columbus, Ohio, at an unparalleled pace. The NAI Ohio Equities Industrial Property Team explained that their business has flip-flopped with the majority of their 2021 representation being on the tenant side, where it has traditionally been on the landlord side. Industrial warehouse space is…

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News 

Office Space is Desired in Central Ohio – If it’s the Right Kind

Alexa Broyles, , , , , , , , , , , , ,

November transactions remained steady for NAI Ohio Equities. Our team closed more than 25 commercial real estate transactions, equating to more than 662,400 square feet. Of the month’s transactions, nearly one-third were office space. The conversation about remote work and whether or not to return to the office is continuing as we approach 2022 and round out the second year of the pandemic. Though recent trends such as “The Great Resignation” have fueled the fire with regard to remote work, there are signs that organizations want employees back in the…

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Commercial Real Estate 101 

What You Should Know About a Broker Opinion of Value

Alexa Broyles, , , , , , , , , ,

What is the Difference Between a Broker Opinion of Value and an Appraisal? Both a Broker Opinion of Value (BOV) and an appraisal utilize the same approaches to determining the value of properties, however, there are some key differences. To begin, an appraisal is performed by a state-licensed third party and performed at a cost. Specifically, in terms of commercial real estate, the cost may be significant. Often, a BOV is at little or no cost, as many brokers provide this service as a means of earning representation for the…

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News 

City of Columbus Aims to Address Affordable Housing with 2021 CRA Abatement Policy

Alexa Broyles, , , , , , , , ,

The Columbus Department of Development presented its proposed update to the Community Reinvestment Area Residential Abatement policy as part of a scheduled three-year review, on Wednesday, Nov. 17, during a public meeting. The updated proposal affects tax abatements in both the legacy community reinvestment areas, as well as in designated as “Market Ready” and “Ready for Revitalization” areas, which are determined based on the number of qualifying distress criteria. Distress criteria include population growth, median household income growth, poverty rate, growth in median rent, housing vacancy rate and mortgage foreclosure…

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Steelton Village Rebirth Attracts Small Businesses to The Fort

Alexa Broyles, , , , , , , , , , , , , , ,

NAI Ohio Equities had a strong October with more than 26 closings last month. Our office sold or leased more than 255,000 square feet, and signed or renewed leases with 17 tenants. Our October closed transactions include the addition of several new tenants to The Fort, our featured property. The Fort, located on Columbus’ south end in Steelton Village, serves as a business incubator to roughly 30 tenants including a number of creative studios and business professionals. Set in a former 19th-century ladder and fire truck factory, The Fort is…

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Ohio Equities Finds Industrial Warehouse Space Fueling BARK Co. Expansion and Job Growth

Alexa Broyles, , , , , , , , , , ,

The rapidly expanding Original BARK Company announced in a press release last week that it would be creating 500 full-time jobs in Columbus over the next four years, tripling its staff. Launched in 2012 with its monthly, themed subscription, BARK Box, BARK has now expanded to include BARK Super Chewer, BARK Bright and BARK Eats. The success of these expansions, and specifically the success of BARK Eats, drove co-founder Carly Strife to think about expanding its industrial space here in Columbus, Ohio, which accounts for some of the job creation…

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self storage units Commercial Real Estate 101 

Looking for an Investment Property? Self-Storage May Offer a Unique Opportunity

Alexa Broyles, , , , , , , , , , , , , , ,

September commercial real estate transactions remained steady and accounted for roughly 325,000 sq. ft. in sold or leased, office, investment, industrial, and retail properties in our office. One of our largest sales was 485 Lee Street in Belpre, Ohio. The self-storage facility featured nearly 78,000 sq. ft. of rentable space and an astounding 465 units. Self-storage continues to be a desired investment sector, and has gained significant interest recently for several reasons. To begin, explained Investment Team Broker, Tyler Watkins, self-storage properties tend to be easier to manage and have…

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describing our august transactions News 

August Transactions in Central Ohio

Amy Karnes, , , , , , , , , , , ,

August did not slow down this year for commercial real estate transactions. Our office closed on a number of industrial, investment, land, retail and office properties. One of our largest sales was 105 Innovation Court in Delaware, Ohio. This 60,000 SF industrial investment property sold for $5,700,000 by Doug Shull. The Central Ohio Commercial Real Estate market continues to be a great market for both small businesses and larger corporations. Get in touch with us if you need an opinion of value on your commercial space!

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News 

July Transactions – Another Hot Month for Central Ohio Real Estate

Amy Karnes, , , , , , , , , , ,

July was another busy month for NAI Ohio Equities. Our office closed on another record number of industrial, office and retail properties. One of our large office sales included the sale of the former Volunteers of America building located at 1776-1780 E. Broad Street. It was sold for $3,510,000. You can read more about the sale here. The Central Ohio Commercial Real Estate market continues to be a great market for both small businesses and larger corporations. Get in touch with us if you need an opinion of value on…

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Commercial Real Estate 101 

Industrial CRE: the party isn’t over yet!

Amy Karnes, , , ,

Real Capital Analytics (RCA) has released their latest US National All-Property Index data for industrial, apartment, retail, and office sectors, which shows index growth of 8.4% year-on-year to April 2021. The biggest gains were evident in Industrial (up by 9.4%), which we all know has been one of the few spaces for which Covid-19 proved to be a boon. But GlobeSt analysis of Crexi data and Moody’s Analytics suggests that a “market correction” may be on the cards In the monthly Crexi National Commercial Real Estate report, they write, ‘for…

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