Medpace plans to expand its headquarters campus in Madisonville, adding 200,000 square feet of new buildings and employing 1,250 people by 2014. Several companies signed new leases or are relocating to the Greater Cincinnati area, bringing jobs and investment. Development projects completed in downtown Cincinnati last year totaled over $180 million while another $1.2 billion remain under construction, with the downtown population growing. Several industrial, office, retail, and residential real estate transactions also occurred across the region.
Steiner & Associates acquired land for a new development called Liberty Towne Center. Al. Neyer Inc. purchased a property to use as parking for an adjacent building. BW Partners Ltd. bought land to develop Austin Business Park. Plans are underway for a 120-room hotel in Evanston and Connor Group is building a new headquarters center in Miamisburg. The Christ Hospital will expand with a new orthopedic tower and parking garage.
This document provides a summary of real estate and business news from the Greater Cincinnati area in February 2012. It includes over 50 brief updates on commercial real estate transactions, developments, leases, and other business activities across various sectors such as office, industrial, retail, and investment. Major developments include DHL's expansion adding over 180 jobs at CVG airport, DunnhumbyUSA building its new headquarters downtown, and Steiner & Associates planning a $300 million retail development in Liberty Township.
1) The City of Cincinnati is providing $540,000 in tax incentives to renovate an old building into upscale office and restaurant space.
2) A $50 million convention center and hotel is being built in Lawrenceburg, Indiana by the city and Hollywood Casino.
3) Several companies have expanded or relocated to new facilities throughout the Greater Cincinnati area, both for office and industrial space.
The late phase research environment has become more complex due to increased regulatory demands from the FDA and EMA for comprehensive safety data. Sponsors must begin planning late phase studies earlier in the investigative process and work with strategic research partners to effectively plan studies that address therapeutic, regulatory and economic concerns. Failing to take early action can result in costly delays and failure to obtain drug approval. Effective planning is essential to navigating today's complex late phase research landscape.
This presentation summarizes regulations for medical devices in Korea, the United States, and Europe. It discusses classification systems, submission types and requirements. Current topics in US regulation like 510k reform, the medical device tax, FDA-CMS collaboration, and initiatives to promote innovation are also covered. The presentation concludes that while regulations differ somewhat globally, collaboration can help support global trials and submissions, and regulations are evolving to balance innovation and healthcare costs.
Overcoming Barriers to Risk-Based MonitoringBioclinica
The document discusses overcoming barriers to risk-based monitoring. It identifies five common barriers: the need to verify every source document; lack of staffing and equipment for centralized monitoring; risk-based monitoring introduces too much risk; risk-based monitoring is too expensive; and that studies are unique and risk-based monitoring is not appropriate for all. It then proceeds to address each of these barriers, arguing that the right technology-supported processes and experienced teams can implement centralized risk-based monitoring, that it focuses on relevant data to reduce risk rather than increase it, and that it can potentially reduce monitoring costs by 20% for large phase III trials.
- Sears will remain in Chicago after receiving $125 million in tax breaks over 15 years.
- Steiner & Associates plans to break ground in 2014 on the first phase of a $300 million retail project in Liberty Township.
- The Jewish Hospital in Kenwood is planning a $100 million expansion project that will include a new wing and commence in 2013.
FirstService Corporation has acquired Colliers International's UK operations. Wellington Orthopaedic & Sports Medicine is moving to a larger space in Oxford, Ohio and will add physicians. Churchill Downs Inc. has formed a joint venture to purchase Lebanon Raceway and build a video lottery terminal facility and harness racetrack.
Steiner & Associates acquired land for a new development called Liberty Towne Center. Al. Neyer Inc. purchased a property to use as parking for an adjacent building. BW Partners Ltd. bought land to develop Austin Business Park. Plans are underway for a 120-room hotel in Evanston and Connor Group is building a new headquarters center in Miamisburg. The Christ Hospital will expand with a new orthopedic tower and parking garage.
This document provides a summary of real estate and business news from the Greater Cincinnati area in February 2012. It includes over 50 brief updates on commercial real estate transactions, developments, leases, and other business activities across various sectors such as office, industrial, retail, and investment. Major developments include DHL's expansion adding over 180 jobs at CVG airport, DunnhumbyUSA building its new headquarters downtown, and Steiner & Associates planning a $300 million retail development in Liberty Township.
1) The City of Cincinnati is providing $540,000 in tax incentives to renovate an old building into upscale office and restaurant space.
2) A $50 million convention center and hotel is being built in Lawrenceburg, Indiana by the city and Hollywood Casino.
3) Several companies have expanded or relocated to new facilities throughout the Greater Cincinnati area, both for office and industrial space.
The late phase research environment has become more complex due to increased regulatory demands from the FDA and EMA for comprehensive safety data. Sponsors must begin planning late phase studies earlier in the investigative process and work with strategic research partners to effectively plan studies that address therapeutic, regulatory and economic concerns. Failing to take early action can result in costly delays and failure to obtain drug approval. Effective planning is essential to navigating today's complex late phase research landscape.
This presentation summarizes regulations for medical devices in Korea, the United States, and Europe. It discusses classification systems, submission types and requirements. Current topics in US regulation like 510k reform, the medical device tax, FDA-CMS collaboration, and initiatives to promote innovation are also covered. The presentation concludes that while regulations differ somewhat globally, collaboration can help support global trials and submissions, and regulations are evolving to balance innovation and healthcare costs.
Overcoming Barriers to Risk-Based MonitoringBioclinica
The document discusses overcoming barriers to risk-based monitoring. It identifies five common barriers: the need to verify every source document; lack of staffing and equipment for centralized monitoring; risk-based monitoring introduces too much risk; risk-based monitoring is too expensive; and that studies are unique and risk-based monitoring is not appropriate for all. It then proceeds to address each of these barriers, arguing that the right technology-supported processes and experienced teams can implement centralized risk-based monitoring, that it focuses on relevant data to reduce risk rather than increase it, and that it can potentially reduce monitoring costs by 20% for large phase III trials.
- Sears will remain in Chicago after receiving $125 million in tax breaks over 15 years.
- Steiner & Associates plans to break ground in 2014 on the first phase of a $300 million retail project in Liberty Township.
- The Jewish Hospital in Kenwood is planning a $100 million expansion project that will include a new wing and commence in 2013.
FirstService Corporation has acquired Colliers International's UK operations. Wellington Orthopaedic & Sports Medicine is moving to a larger space in Oxford, Ohio and will add physicians. Churchill Downs Inc. has formed a joint venture to purchase Lebanon Raceway and build a video lottery terminal facility and harness racetrack.
Columbus OH Market News April 2011 Columbus Regioncolliersohio
- Bioscience employment in Central Ohio has grown 19.5% since 2000, adding over 10,000 jobs, while statewide employment declined 8.6%. Over 200 new biotech companies have started in Ohio.
- Arshot Investment Corp. received approval to purchase the former Cooper Stadium site for $3.4 million and will seek a 10-year, 75% property tax abatement.
- From 2000 to 2010, the number of young professionals within 3 miles of Broad and High in Columbus grew by 4,000 (45%), and Columbus was ranked 9th for gains in college-educated residents.
Columbus Knowledge thats Sells January 2012colliersohio
The document provides an overview of recent real estate, development, industrial, retail, and office news in central Ohio from January 2012. It discusses topics such as Sears receiving tax breaks to remain in the area, various commercial real estate sales and developments, expanding companies, and new restaurants and retailers opening locations. It also mentions community involvement by the local Colliers International office in supporting a homeless families foundation.
The document provides an overview of recent real estate, development, and investment news across various sectors in the Cincinnati region. Some key points include:
- The Banks development unveiled a new marketing scheme and logo for the mixed-use site.
- A $75 million mixed-use development is planned at the intersection of Clifton, Mount Auburn, and Corryville neighborhoods.
- Music Hall's $135 million renovation began with completion expected by the 2017-18 symphony season.
- A 25-story, 352-unit apartment building called SkyHouse is under construction near Cincinnati's riverfront.
- Fifth Third Bank expanded its lease in downtown Cincinnati at the former 580 Building
The document summarizes economic development progress in Bridgeport, Connecticut in 2010. Several adaptive reuse and construction projects were completed, including residential and commercial buildings. Educational and medical institutions also expanded. New businesses opened and existing companies grew, creating hundreds of jobs. Overall the report outlines Bridgeport's efforts to revitalize through real estate development, attraction of new companies, workforce growth, and regional collaboration.
RTA expanded their free trolley service, called the "Smile Ride Free", to connect more areas in Cleveland including the Horseshoe Casino, Global Center for Health Innovation, Convention Center, Science Center, Rock Hall and lakefront. The expansion cost $3.6 million over 3 years, with the City of Cleveland providing $100,000 and local businesses contributing the remaining $720,000 local match. The trolley connects parking areas and underserved neighborhoods.
Opened in 2008, the Cleveland HealthLine has been named the most successful Bus Rapid Transit Project in the US by the Institute for Transportation and Development Policy and was recently featured in the report "More Development for Your Transit Dollar: An Analysis of 21 North American Transit Corridors." This brochure highlights some of the successful projects along the HealthLine.
Columbus Knowledge thats Sells March 2012 colliersohio
1) The owners of the LeVeque Tower in downtown Columbus are investing up to $22 million to renovate the landmark skyscraper by adding a hotel and apartments.
2) Nationwide Children's Hospital opened a new $6.3 million sports medicine and orthopedic center in Dublin, Ohio, its second facility of this kind in the area.
3) Consumer confidence rose dramatically in February according to The Conference Board's Consumer Confidence Index, reaching its highest level since February 2011.
Brookfield Multiplex is managing construction of the Hilton Surfers Paradise Hotel and Residences project, including design, construction, development, apartment sales, and retail leasing. The project is using an innovative "top down" construction method involving installing deep perimeter walls and concrete piles before building upward. Safety procedures are closely monitored during the basement construction. The project is progressing ahead of schedule with completion of stages by 2010 and 2011.
City of Cleveland Department of Economic Development: Report to Council 2013CleEconomicDevelopment
This yearly publication is presented by the City of Cleveland Department of Economic Development to the Cleveland City Council. It highlights projects and achievements of note that were completed by the Department in the previous calendar year.
Big Ideas for Small Business: 2013 Report to Cleveland City CouncilCleEconomicDevelopment
The document provides information on economic development initiatives in Cleveland in 2013. It discusses loans provided by the Cleveland Citywide Development Corporation to support historic building renovations. It also summarizes projects funded through the Vacant Property Initiative that renovated vacant buildings and returned them to productive use, creating over 3,500 jobs. Examples of successful projects funded include the Jay Lofts, Britton-Gallagher headquarters, and the Health Tech Corridor. Small business initiatives like the Grow America Fund and ECDI provided loans and support to local small businesses.
a brief economic update on some highlights and on-going initiatives of our EDG partnership. The projects highlighted tonight are a tribute to the EDG partnership which played a significant role in bringing them to fruition.
The city of Indianapolis is funding a $150 million mixed-use development called "North of South" near Eli Lilly's headquarters. The development will include a 148-room Dolce hotel, a 27,000 square foot YMCA, 320 apartments, and 40,000 square feet of retail and restaurant space. The city will issue bonds to fund the project and provide $9 million in tax incentives. Construction is slated to begin by the end of the year and take two years to complete. The project aims to link Lilly employees to new amenities while creating thousands of construction jobs and hundreds of permanent jobs.
This document brings together a set
of latest data points and publicly
available information relevant for
Banking Industry. We are very
excited to share this content and
believe that readers will benefit from
this periodic publication immensely.
The Dunedin City Council's new district plan requires all new buildings in coastal hazard areas to be relocatable in the event of sea level rise. Developers criticize this rule as being unrealistic without providing guidance on how or who would pay for relocation. The Property Council also argues the plan has too many small fragmented commercial and industrial zones that do not work well. It wants the zones streamlined to provide more development opportunities and attract investment to Dunedin. Confidence in the Christchurch construction market is declining as the rebuild program winds down, while optimism in Auckland is rising driven by the strong housing market.
Eritek, Inc. and CenCore, LLC Sign Office Leases at Village at LeesburgVillage at Leesburg
Eritek, Inc. and CenCore, LLC have signed leases to occupy office space at the Village at Leesburg mixed-use development in Virginia. Eritek will occupy 1,407 square feet dedicated to an optics lab, while CenCore will occupy 1,969 square feet. The Village at Leesburg features over 1.2 million square feet of retail, office, and residential space developed by Cypress Equities and Kettler.
The 2014 annual report of the Claremore Industrial & Economic Development Authority highlights several economic development projects and expansions in the Claremore area. Baker Hughes invested over $60 million to open an artificial lift technology center, creating over 120 jobs. AXH Air-Coolers expanded by 50% to over 500,000 square feet. HydroHoist, founded in 1964, celebrated 50 years as a global market leader. Phase II of the John Carle Boulevard expansion was underway to provide access to the rail spur. The Claremore airport completed taxiway and hangar projects. St. John expanded to a new 20,000 square foot facility. Three new hotels broke ground to attract larger events.
What: The Economic Development Forum
When: Thursday, September 29, 2022 from 8:30 a.m. - 10:00 a.m.
Why: What does it mean and what does it take to have a thriving community? This forum will look closely at economic development throughout Greater Chapel Hill-Carrboro and Orange County, and unpack what's underway, why it matters, and what we can expect going forward.
Panel Presentations
Steve Brantley, Orange County Economic Development
Dwight Bassett, Town of Chapel Hill Economic Development
Matt Gladdek, Chapel Hill Downtown Partnership
Jon Hartman-Brown, Town of Carrboro Economic Development
Shannan Campbell, Town of Hillsborough Economic Development
About the Critical Issues Series: The 2022 Critical Issues Series (formerly known as the Policy Series) includes quarterly forums that feature influential guest speakers who address timely topics for Greater Chapel Hill-Carrboro related to the economy, economic development, public policy, and elections. The series is presented by Chapel Hill Media Group, Durham Tech, Glen Lennox, and Servpro of South Durham and Orange Counties with support from the Small Business and Technology Development Center (SBTDC), which provides free and confidential business counseling.
Contact: For questions, contact Katie Loovis, The Chamber's Vice President for External Affairs at (919) 696-0781 (cell) or KLoovis@carolinachamber.org.
Chris coonan project list november 1 2020Chris Coonan
This document provides a summary of Christopher James Coonan's experience as a design and development director with over 20 years of experience in land planning, entitlements, construction management, and project leadership. It then lists over 50 projects that Coonan has worked on in the United States and China, ranging from mixed-use developments, hotels, restaurants, master plans, and more. The projects demonstrate Coonan's extensive experience leading complex design and construction projects across multiple sectors.
The Columbus retail market saw positive absorption of 49,058 square feet in Q1 2013, continuing a trend of positive absorption over the past year. Vacancy decreased slightly to 10% as major leases were signed and new retailers entered the market. Construction activity remains high with over 170,000 square feet currently under development. The retail market is expected to continue slow, steady growth as new apartment construction brings additional retail demand.
The Columbus office market gained positive absorption for the fourth consecutive quarter. The vacancy rate is now 11.7%, and construction continues with several large projects starting. Rental rates have increased slightly for Class A and B spaces over the past quarter. The largest new leases were Cardinal Health expanding 61,128 sq ft and the FBI leasing 44,926 sq ft. The unemployment rate rose to 6.4% but remains lower than in previous years.
More Related Content
Similar to Cincinnati OH Knowledge That Sells June
Columbus OH Market News April 2011 Columbus Regioncolliersohio
- Bioscience employment in Central Ohio has grown 19.5% since 2000, adding over 10,000 jobs, while statewide employment declined 8.6%. Over 200 new biotech companies have started in Ohio.
- Arshot Investment Corp. received approval to purchase the former Cooper Stadium site for $3.4 million and will seek a 10-year, 75% property tax abatement.
- From 2000 to 2010, the number of young professionals within 3 miles of Broad and High in Columbus grew by 4,000 (45%), and Columbus was ranked 9th for gains in college-educated residents.
Columbus Knowledge thats Sells January 2012colliersohio
The document provides an overview of recent real estate, development, industrial, retail, and office news in central Ohio from January 2012. It discusses topics such as Sears receiving tax breaks to remain in the area, various commercial real estate sales and developments, expanding companies, and new restaurants and retailers opening locations. It also mentions community involvement by the local Colliers International office in supporting a homeless families foundation.
The document provides an overview of recent real estate, development, and investment news across various sectors in the Cincinnati region. Some key points include:
- The Banks development unveiled a new marketing scheme and logo for the mixed-use site.
- A $75 million mixed-use development is planned at the intersection of Clifton, Mount Auburn, and Corryville neighborhoods.
- Music Hall's $135 million renovation began with completion expected by the 2017-18 symphony season.
- A 25-story, 352-unit apartment building called SkyHouse is under construction near Cincinnati's riverfront.
- Fifth Third Bank expanded its lease in downtown Cincinnati at the former 580 Building
The document summarizes economic development progress in Bridgeport, Connecticut in 2010. Several adaptive reuse and construction projects were completed, including residential and commercial buildings. Educational and medical institutions also expanded. New businesses opened and existing companies grew, creating hundreds of jobs. Overall the report outlines Bridgeport's efforts to revitalize through real estate development, attraction of new companies, workforce growth, and regional collaboration.
RTA expanded their free trolley service, called the "Smile Ride Free", to connect more areas in Cleveland including the Horseshoe Casino, Global Center for Health Innovation, Convention Center, Science Center, Rock Hall and lakefront. The expansion cost $3.6 million over 3 years, with the City of Cleveland providing $100,000 and local businesses contributing the remaining $720,000 local match. The trolley connects parking areas and underserved neighborhoods.
Opened in 2008, the Cleveland HealthLine has been named the most successful Bus Rapid Transit Project in the US by the Institute for Transportation and Development Policy and was recently featured in the report "More Development for Your Transit Dollar: An Analysis of 21 North American Transit Corridors." This brochure highlights some of the successful projects along the HealthLine.
Columbus Knowledge thats Sells March 2012 colliersohio
1) The owners of the LeVeque Tower in downtown Columbus are investing up to $22 million to renovate the landmark skyscraper by adding a hotel and apartments.
2) Nationwide Children's Hospital opened a new $6.3 million sports medicine and orthopedic center in Dublin, Ohio, its second facility of this kind in the area.
3) Consumer confidence rose dramatically in February according to The Conference Board's Consumer Confidence Index, reaching its highest level since February 2011.
Brookfield Multiplex is managing construction of the Hilton Surfers Paradise Hotel and Residences project, including design, construction, development, apartment sales, and retail leasing. The project is using an innovative "top down" construction method involving installing deep perimeter walls and concrete piles before building upward. Safety procedures are closely monitored during the basement construction. The project is progressing ahead of schedule with completion of stages by 2010 and 2011.
City of Cleveland Department of Economic Development: Report to Council 2013CleEconomicDevelopment
This yearly publication is presented by the City of Cleveland Department of Economic Development to the Cleveland City Council. It highlights projects and achievements of note that were completed by the Department in the previous calendar year.
Big Ideas for Small Business: 2013 Report to Cleveland City CouncilCleEconomicDevelopment
The document provides information on economic development initiatives in Cleveland in 2013. It discusses loans provided by the Cleveland Citywide Development Corporation to support historic building renovations. It also summarizes projects funded through the Vacant Property Initiative that renovated vacant buildings and returned them to productive use, creating over 3,500 jobs. Examples of successful projects funded include the Jay Lofts, Britton-Gallagher headquarters, and the Health Tech Corridor. Small business initiatives like the Grow America Fund and ECDI provided loans and support to local small businesses.
a brief economic update on some highlights and on-going initiatives of our EDG partnership. The projects highlighted tonight are a tribute to the EDG partnership which played a significant role in bringing them to fruition.
The city of Indianapolis is funding a $150 million mixed-use development called "North of South" near Eli Lilly's headquarters. The development will include a 148-room Dolce hotel, a 27,000 square foot YMCA, 320 apartments, and 40,000 square feet of retail and restaurant space. The city will issue bonds to fund the project and provide $9 million in tax incentives. Construction is slated to begin by the end of the year and take two years to complete. The project aims to link Lilly employees to new amenities while creating thousands of construction jobs and hundreds of permanent jobs.
This document brings together a set
of latest data points and publicly
available information relevant for
Banking Industry. We are very
excited to share this content and
believe that readers will benefit from
this periodic publication immensely.
The Dunedin City Council's new district plan requires all new buildings in coastal hazard areas to be relocatable in the event of sea level rise. Developers criticize this rule as being unrealistic without providing guidance on how or who would pay for relocation. The Property Council also argues the plan has too many small fragmented commercial and industrial zones that do not work well. It wants the zones streamlined to provide more development opportunities and attract investment to Dunedin. Confidence in the Christchurch construction market is declining as the rebuild program winds down, while optimism in Auckland is rising driven by the strong housing market.
Eritek, Inc. and CenCore, LLC Sign Office Leases at Village at LeesburgVillage at Leesburg
Eritek, Inc. and CenCore, LLC have signed leases to occupy office space at the Village at Leesburg mixed-use development in Virginia. Eritek will occupy 1,407 square feet dedicated to an optics lab, while CenCore will occupy 1,969 square feet. The Village at Leesburg features over 1.2 million square feet of retail, office, and residential space developed by Cypress Equities and Kettler.
The 2014 annual report of the Claremore Industrial & Economic Development Authority highlights several economic development projects and expansions in the Claremore area. Baker Hughes invested over $60 million to open an artificial lift technology center, creating over 120 jobs. AXH Air-Coolers expanded by 50% to over 500,000 square feet. HydroHoist, founded in 1964, celebrated 50 years as a global market leader. Phase II of the John Carle Boulevard expansion was underway to provide access to the rail spur. The Claremore airport completed taxiway and hangar projects. St. John expanded to a new 20,000 square foot facility. Three new hotels broke ground to attract larger events.
What: The Economic Development Forum
When: Thursday, September 29, 2022 from 8:30 a.m. - 10:00 a.m.
Why: What does it mean and what does it take to have a thriving community? This forum will look closely at economic development throughout Greater Chapel Hill-Carrboro and Orange County, and unpack what's underway, why it matters, and what we can expect going forward.
Panel Presentations
Steve Brantley, Orange County Economic Development
Dwight Bassett, Town of Chapel Hill Economic Development
Matt Gladdek, Chapel Hill Downtown Partnership
Jon Hartman-Brown, Town of Carrboro Economic Development
Shannan Campbell, Town of Hillsborough Economic Development
About the Critical Issues Series: The 2022 Critical Issues Series (formerly known as the Policy Series) includes quarterly forums that feature influential guest speakers who address timely topics for Greater Chapel Hill-Carrboro related to the economy, economic development, public policy, and elections. The series is presented by Chapel Hill Media Group, Durham Tech, Glen Lennox, and Servpro of South Durham and Orange Counties with support from the Small Business and Technology Development Center (SBTDC), which provides free and confidential business counseling.
Contact: For questions, contact Katie Loovis, The Chamber's Vice President for External Affairs at (919) 696-0781 (cell) or KLoovis@carolinachamber.org.
Chris coonan project list november 1 2020Chris Coonan
This document provides a summary of Christopher James Coonan's experience as a design and development director with over 20 years of experience in land planning, entitlements, construction management, and project leadership. It then lists over 50 projects that Coonan has worked on in the United States and China, ranging from mixed-use developments, hotels, restaurants, master plans, and more. The projects demonstrate Coonan's extensive experience leading complex design and construction projects across multiple sectors.
Similar to Cincinnati OH Knowledge That Sells June (20)
The Columbus retail market saw positive absorption of 49,058 square feet in Q1 2013, continuing a trend of positive absorption over the past year. Vacancy decreased slightly to 10% as major leases were signed and new retailers entered the market. Construction activity remains high with over 170,000 square feet currently under development. The retail market is expected to continue slow, steady growth as new apartment construction brings additional retail demand.
The Columbus office market gained positive absorption for the fourth consecutive quarter. The vacancy rate is now 11.7%, and construction continues with several large projects starting. Rental rates have increased slightly for Class A and B spaces over the past quarter. The largest new leases were Cardinal Health expanding 61,128 sq ft and the FBI leasing 44,926 sq ft. The unemployment rate rose to 6.4% but remains lower than in previous years.
The Columbus office market gained positive absorption for the third quarter in a row. Construction continues to pick up with new projects starting. Vacancy rates fell slightly to 11.3% as absorption outpaced new construction. Investment sales remained strong in the fourth quarter, with several large portfolio and building sales. Rental rates increased over the course of 2012 for Class A and B spaces. The market outlook remains optimistic as leasing activity was higher than the average of prior fourth quarters.
The Columbus industrial market recorded strong positive absorption of over 1.4 million square feet in the fourth quarter and nearly 5 million square feet for the year. Notable construction projects were completed including a 418,655 square foot expansion and a 30,000 square foot building. Significant leases were signed including 185,000 square feet to Great Lakes and 168,850 square feet to Rogue Fitness. Overall vacancy rates decreased and rental rates remained stable with a slight increase for warehouse/distribution spaces.
The Cincinnati retail market closed out 2012 on a respectable note. The vacancy rate improved to 10.41% in the fourth quarter from 12.5% at the beginning of the year. There was 525,355 square feet of positive absorption in the last three quarters of 2012. Major developments are projected to boost the market in 2013, including the opening of the Horseshoe Casino in March and continued construction at The Banks project.
The Greater Cincinnati office market continued slowing in Q4 2012, with net absorption of -320,686 sq ft and vacancy rising to 20.03%. The Central Business District saw a small increase in positive absorption but not enough to offset the year's negative total. Most negative absorption occurred in the suburbs, pushing the suburban vacancy rate to 21.01%. Developers are starting to market and plan new construction projects as uncertainty from the previous year dissipates.
The Greater Cincinnati industrial market finished 2012 strongly, with positive absorption of 856,364 square feet in Q4. For the full year, net absorption was 624,477 square feet. The overall vacancy rate declined to 9.2% from 9.5% in Q3. Northern Kentucky submarkets performed particularly well, with over 1 million square feet of positive absorption for the year. Rental rates varied by submarket but averaged $3.37 per square foot overall. Limited new construction occurred, with demand expected to drive more development in 2013.
The Columbus retail market recorded positive net absorption of 108,252 square feet in the third quarter of 2012. Vacancy rates decreased slightly to 10.1% from 10.2% in the previous quarter. Notable leases included Nordstrom Rack leasing 36,250 square feet and Star Lanes leasing 35,000 square feet. Construction activity also increased with over 170,000 square feet of new space breaking ground in the past 90 days. The retail market in Columbus continues its recovery with improving absorption, rental, and construction trends.
The document provides an overview of office market trends in the Columbus region for Q2 2012. It finds that while absorption was positive at 32,000 square feet, vacancy increased due to a large vacancy in the Easton submarket. Asking rental rates have steadily increased over the past year. Market activity picked up compared to Q1 2012, though leasing volume was still below past years. The unemployment rate in Columbus fell to 6.1% in May. Key employment sectors like education/health and finance saw growth. Overall, the report finds more activity in the office market but little gain in reducing vacancy rates.
This document provides an industrial market trends report for the Greater Columbus region for Q2 2012. It finds that the industrial market recorded its fifth consecutive quarter of strong positive absorption, with over 1.4 million square feet absorbed. Over 750,000 square feet of construction projects were completed this quarter and another 425,000 square feet began construction. Major leases were signed by Jacobson Warehouse and Closed Loop Refining & Recovery. The report also notes continued construction and leasing activity, stable rental rates, and a moderate pace of economic growth in the region according to the Federal Reserve Bank of Cleveland.
annually. All three sources point to a consumer
that is cautious but spending. The consumer
Europe/Middle East/Africa: 170
The Columbus retail market saw moderate confidence index rose in December to its highest Asia Pacific: 161
positive absorption of 108,000 square feet in Q4 level since July. Gallup’s weekly consumer
2011, with vacancy rates decreasing slightly. spending poll shows spending steady to up slightly.
Larger property sales included a 443,000- The Beige Book noted that consumer spending
square-foot power center for $80 million and a was flat to up modestly across most of the Federal
120,000-square-foot strip center for $
The Columbus office market gained 233,000 square feet of positive absorption in Q4 2011, with vacancy decreasing to 12.2%. Construction has remained slow. Duke Realty sold 19 class A and B office properties totaling over 2 million square feet to Blackstone for $1.08 billion. The unemployment rate in Columbus dipped to 6.6% in November, and information, financial activities, and professional/business services employment increased or remained steady.
The industrial market in the Greater Columbus region saw positive absorption of 52,000 square feet in Q4 2011, led by Zulily leasing over 737,000 square feet at 3051 Creekside Parkway. There were also several significant investment sales, including KTR Capital Partners purchasing five properties totaling over 2.5 million square feet from Allianz Life Insurance Co. for $62 million. Vacancy rates remained stable at 11.9% while rental rates also remained stable compared to previous quarters. Construction activity decreased compared to previous quarters.
The Columbus retail market saw a dip in the first quarter of 2012 with negative absorption of 123,632 square feet, primarily in the Southeast, Northwest, and Northeast submarkets. The vacancy rate increased to 11.1% while rental rates fell for big box, community, and anchored strip centers. Several retailers are closing stores including Sears, Kmart, Best Buy, and The Great Indoors, while Cabela's will be opening its first Ohio store in Polaris. Construction is underway on projects like the New Market Mall renovation and a 30,000 square foot community center in the Northwest submarket.
The industrial market in the Greater Columbus region continued to see strong leasing activity in Q1 2012, with over 1.2 million square feet of positive absorption. The vacancy rate dropped to 10.9%, the lowest since 2007. Several large leases were signed, including Innotrac taking 434,000 sq ft and Shasta Beverage taking 134,000 sq ft. Rental rates for warehouse/distribution space remained flat, while rates for R&D/Flex space increased for the third consecutive quarter. The regional industrial economy saw stable or moderately higher new orders and production among manufacturers.
The Columbus region office market saw slight negative absorption of 18,000 square feet in Q1 2012, leaving the vacancy rate at 12.1%. Westerville submarket gains absorption with 26,000 square feet absorbed, while Arlington/Grandview lost 36,000 square feet. Notable leases included Cott Systems taking 19,000 square feet in Westerville and ASK Chemicals leasing 16,000 square feet in Dublin. The employment and construction outlooks remain positive with several large projects underway or planned.
In Q4 2011, the Greater Cincinnati retail market saw strong demand and absorption. Net absorption for the quarter was 78,540 square feet, bringing yearly net absorption to 630,236 square feet and lowering the overall vacancy rate to 12.8%. Several major development and redevelopment projects were underway, including The Banks mixed-use project in downtown Cincinnati. Looking ahead to 2012, demand is expected to remain strong with vacancy rates projected to continue declining slightly.
The Greater Cincinnati office market finished the fourth quarter of 2011 relatively strong, with a modest amount of growth. The overall vacancy rate was 20.5% and net absorption for the quarter was 30,261 square feet, bringing year-to-date absorption to 50,163 square feet. Medical tenants were the most active, and this trend is expected to continue driving growth in 2012. Rental rates increased slightly to $18.03 per square foot. The Central Business District saw negative absorption of 33,758 square feet, and Chiquita's announced relocation out of Cincinnati will impact availability. Suburban submarkets saw over 64,000 square feet of net absorption led by the I-71 North Corridor with over 81
The Greater Cincinnati industrial market finished 2011 with over 1.1 million square feet of positive absorption in the fourth quarter, bringing the total year-to-date absorption to a positive 120,511 square feet. Vacancy ended the year at 9.3% with an average asking rate of $3.53 per square foot. Several significant leases and renewals were signed in the fourth quarter across various submarkets as construction remained focused on build-to-suit projects. The strong fourth quarter finish positions the market well entering 2012 despite some expected vacancy from large facility closings.
The Greater Cincinnati office market saw positive absorption of 449,759 square feet in Q1 2012, with the overall vacancy rate falling from 19.6% to 18.7%. The suburban submarkets saw the most activity, producing 458,355 square feet of absorption, while the CBD saw a net loss of 8,596 square feet. Construction activity is also picking up, with several new projects announced or underway, including dunnhumbyUSA's 250,000 square foot headquarters downtown. Overall, the first quarter results indicate the local office market is improving.
1. Knowledge That Sells
June 2011
• Medpace Inc. will expand its Madisonville headquarters with
two new buildings totaling 200,000 square feet. Medpace
FASTER plans to employ 1,250 people on their new campus by 2014.
FORWARD
• F&W Media, Inc has signed a 10-year lease valued at
$11,500,000 for the Hawthorne Center in Blue Ash, located at
10151 Carver Road.
• St. Elizabeth’s Physicians Group has leased the
45,000-square-foot office building at 2300 Chamber
General News Center Drive in Fort Mitchell, KY. Build-out of the new space is
scheduled to be completed by August 1, and the multi-specialty
• Downtown Cincinnati Inc reported that downtown Cincinnati saw
physician organization of St. Elizabeth Healthcare will initially
more than $180 million development projects completed last year,
occupy 30,000 square feet.
while another $1.2 billion worth of projects remain under
construction. Highlights include the downtown population growing
• Cheviot Savings Bank plans to double the size of its
to 4,852 residents (up 11.7 percent from 2009), the openings of 33
headquarters in downtown Cheviot by constructing a
new retailers in 2010, and apartment occupancy rates remaining
20,000-square-foot office building at 3723 Glenmore Avenue.
above 90 percent in the Central Business District.
The new building will be the largest and tallest building
constructed in this West Side city in more than a decade.
Development
• Backers of the Horseshoe Casino Cincinnati have delayed their • Two technology companies, Meaningful Use Technologies LLC
scheduled opening date for a downtown casino until sometime in and Korean-based Arcron Systems Inc., are moving their U.S.
2013. The developer is trying to work out several tax issues with the headquarters into a 5,000-square-foot facility in Newport, KY.
State of Ohio. Combined, they will bring 20 new jobs and an investment of
more than $1 million to the region.
• 21c Museum Hotels has begun the renovation and restoration of the
historic Metropole Hotel across from the Aronoff Center for the Arts Industrial
in downtown Cincinnati. The new hotel is expected to open
• Airtron, a heating and air conditioning company in Dayton, is
late 2012.
moving to 20,000 square feet at 9422 Meridian Way in West
Office Chester, OH.
• Tokyo Boeki North America Inc., a measurement and data • A global company, CEVA Logistics US Inc., which services Dell
processing solutions company, is moving its sales and support Computers, has notified Ohio that it is closing its local
offices from Detroit to 11 Spiral Drive in Florence, KY. operations off Windisch Road, slashing nearly 200 jobs.
• Chiquita Brands International Inc. has signed a 16-month extension • Newtown-based Hydro Systems is purchasing a two-acre
at 250 E. Fifth Street, keeping the consumer products company property next door to its Round Bottom Road facility, where it
downtown through 2012 in 115,494 square feet of space. plans to demolish the building and add an additional 25,000
square feet to their existing 55,000-square-foot facility.
2. • Slate Ridge Holdings has purchased two industrial buildings at • Snap Fitness, billed as a no-frills fitness center, is opening
3650 and 3680 E. Kemper Road for $2.15 million. One building two gyms in Northern Kentucky, one in Alexandria and the
is a 150,595-square-foot vacant warehouse and the other is a other in Hebron.
41,180-square-foot industrial building with existing income stream.
• Pet People has leased 5,210 square feet at Hyde Park Station.
• Fortis Security Products will construct a 69,000-square-foot
manufacturing and office facility at 501 Minger Way in Greendale, IN. • The Cock and Bull English Pub has finished construction and
The company is relocating from Hebron, 12 miles away. is now open for business in Hyde Park.
• Mane, Inc has lease 12,560 square feet of industrial space at 1004
Tech Drive in Milford. Mane is a worldwide leader in the fragrance Investment
and flavor design industry. • Arizona-based Cole Real Estate purchased a
14,490-square-foot Walgreens Drug Store building in
Retail Middletown, OH, for nearly $5.42 million, or approximately
$374 per square foot. Anchor Properties, based in Covington,
• Buffalo Wings & Rings started construction on a new KY, was the seller. The single-tenant retail building at 6330
4,000-square-foot location in Finneytown at Brentwood Plaza. Cincinnati Dayton Road is fully leased to Walgreens through
February 2036.
• A new neighborhood tavern is slated to open soon along Short
Vine in Corryville. The new establishment, Dive Bar, will occupy the Sources: Cincinnati Business Courier, Dayton Daily News, Cincinnati Enquirer, Dayton Business
space vacated by Submarine Galley. Journal, CoStar Group, Inc., RE Business Online, GlobeSt.com, RealCapital Analytics, The Conference
Board, The Federal Reserve Board.
• Clothing and accessories retailer, Metropark, announced that it is
going out of business and is closing all 69 of its stores. The
company operates one Cincinnati area location, at Kenwood
COMMUNITY INVOLVEMENT
Towne Centre. In August of this year,
six Colliers associates from
• Roosters Men’s Grooming Center, a barbershop franchise with more
Cincinnati and Columbus will
than 30 locations across the country, is opening in Deerfield
be participating in Pelotonia11.
Towne Center.
Pelotonia is an annual bike ride
• The Skinny Pig has opened in East Walnut Hills on Woodburn put together to help raise money
Avenue, serving lunch and dinner. for cancer research. The ride
begins in Columbus and ends in Athens, OH. Last year, over
• Mike Hama, the owner of Beluga in Hyde Park, has closed his
4,000 cyclists participated in the event and raised over $7.8
11-year-old restaurant. A new tenant is lined up to move into the
space, but has yet to be announced. million for cancer research. In 2009, Lance Armstrong even
rode in the event! If you would like to participate or donate to the
• A new 120,000-square-foot Kroger Marketplace store will be built in Colliers Team, please visit www.pelotonia.com and search for the
Amelia, located on Ohio Pike, near Amelia Olive-Branch Road.
Colliers Team page.
• The ownership group behind the Holy Grail Tavern & Grille has
“Knowledge That Sells” is a monthly publication compiled and
closed the Corryville location.
researched by the market research department at Colliers
• Towne Properties said it is pursuing an eviction against BagPipes International. For more information, or to be added to the
Irish Pub, a restaurant and bar that opened in February at Seventh subscriber list, please contact Brian Graham at brian.graham@
and Race Streets downtown, for failure to pay rent. colliers.com.
• Jones the Florist has closed the last remaining Jack Herb Florist
COLLIERS INTERNATIONAL
location in Mount Healthy.
Greater Cincinnati
425 Walnut Street, Suite 1200
• Cincinnati will be home to the first newly designed Disney Store in
Cincinnati, OH 45202
the state of Ohio, as the retailer plans to open a new concept store
513 721 4200 Fax 513 721 0630
at Kenwood Towne Centre. www.colliers.com