1. APRIL 2011 / PRODUCED BY COLLIERS INTERNATIONAL RESEARCH
Central Ohio Market News
Economic & Development News
• Bioscience employment in Central Ohio return for the deal’s third extension in as
has grown 19.5 percent since 2000, many years, Arshot agreed to ask for a
which is more than 10,000 jobs. Even as 10-year, 75 percent property-tax
INSIDE THIS ISSUE
employment state-wide declined 8.6 abatement instead of 100 percent tax
percent since 2000, more than 200 new break.
- Big changes coming in Arena
District biotech companies were created or • From 2000 to 2010 the number of new
entered the state for a total of 1,345 firms. young professionals within a 3-mile
- Tax incentives abound for
both office and industrial • Arshot Invesment Corp. received an radius of Broad and High grew by 4,000,
firms extension of the purchase agreement on which is a 45 percent. Additionally, New
the former Cooper Stadium site. If the Geography listed Columbus as 9th best
- Casino breaks ground
deal is completed, Arshot will pay nearly for recent gains of college educated
$3.4 million for the 47-acre tract. In people.
MARKET INDICATORS
Trend Location
UNEMPLOYMENT OHIO The state’s unemployment rate dipped to 8.9 percent in from 9.2
in February
UNEMPLOYMENT COLUMBUS Central Ohio’s unemployment rate decreased to 7.6 percent in
March from 8.2 percent in February
TECHNOLOGY Both Manpower Inc. and Technology for Ohio’s Tomorrow reported
OHIO
HIRING upbeat projections for technology hiring
www.colliers.com

2. Office & Medical News From Central Ohio Central Ohio Market News
• Nationwide Realty Investors Ltd. has create 75 jobs and retain 380. The deal
Every month, the researchers at Colliers International
announced plans to complete the Arena is worth $443,000 over seven years. in Columbus compile the latest business news in
District construction with a six-story Central Ohio. It’s difficult to make time during the day
- Electronic medical records firm, Updox to monitor breaking news and to catch every pertinent
offiice building and parking garage that
LLC, is spending $675,000 on an IT story, so we make it easy for you to get the
will house current Central Business information you need to make informed business
project expected to create 45 jobs and
District tenant, Columbia Gas of Ohio decisions.
retain two. The Dublin-based firm
Inc. The firm will anchor fill 208,000
received a tax deal worth $258,000
square feet of the 280,000 square feet Central Ohio Market News is a publication compiled
over six years.
that will be available in the building and researched by the Research Department at
Colliers International in Columbus.
when it is completed in late 2014. • An incentive approved by the state
calls for a $500,000 expansion in
Columbia Gas of Ohio Inc., a division of
Worthington by Mediu LLC, a call center Sources: Ohio Department of Development, Business
Nisource Inc., will move its 650 First, The Columbus Dispatch, The Daily Reporter,
consulting firm. The expansion is This Week Daily Newspapers, Wall Street Journal,
employees out of offices at 200 Civic
expected to create 18 jobs and the ColumbusUnderground.com and Costar.
Center Drive, the Nisource Building.
incentive is worth $90,000 over five
Columbia was committed to leasing a
years.
multi-tenant property and as such the
new building will have two contiguous • Daimler Group Inc. expects to begin
floors with 20,000 square feet available construction as early as next month on Want Your News Faster?
for lease. The Arena District won the a 106,500-square-foot building on
expansion over competition from New Walton Parkway in Water’s Edge of New Follow us on Twitter at
twitter.com/ColliersCbus
Albany, and Dublin, as well as Easton. Albany Business Park. The project is
speculative development. Daimler and
• Insight Bank, launched in Columbus in Get links to the latest news stories, commercial
co-developers New Albany Company real estate news and Colliers International
2006, is moving its headquarters to the information as it happens.
Ltd. and Capitol Square Ltd. have
former Dalt’s restaurant building and
decided to move forward with the
attached offices at 140 W. Wilson Bridge
project because Water’s Edge Building I
Road. Insight is moving next to • Alcatel-Lucent signed a deal in Dublin,
at 7775 Walton Pkwy is fully leased.
Worthington Square Mall. Its current taking a package of tax incentives from the
location is in Orion Place in Polaris. • Accounting firm Holbrook & Manter state and Dublin. The firm leased more
announced it will move some of its than 120,000 square feet in Atrium II at
• Two substantial tax deals were offered
operations into 3,500 square feet of the 5455-5475 Rings Road. 600 employees
to expanding firms in Dublin:
Grandview Yard Project. The firm will will be moved from East Broad Street in
- Information Control Corp., an move 12 employees from their East Columbus.
information technology services firm downtown offices in July.
with operations in Columbus and Dublin,
announced it will expand with a
$600,000 project that is expected to
Industrial News From Central Ohio
• The Ohio Department of Development has receive a tax deal worth $214,000 over $449,000 over seven years in return for the
approved tax incentives for four companies: seven years. $16.2 million investment.
- Alene Candles LLC, candle maker for the - Axium Plastics Inc., a plastic container - Food packaging producer, Pactiv Corp.,
gift, cosmetic, and retail markets, is set for a producer for the personal care, beauty, announced it will embark on a $1.4 million
$8.2 million project expected to create 135 automotive, and other markets, is planning project expected to create 43 jobs and
jobs. The firm is expecting to hear from on building a 110,000-square-foot retain 133. The Lake Forest, Ill.-based
New Albany Village Council about further manufacturing and research-and- company received an incentive worth
tax incentives for the project in the village. development facility in New Albany that will $109,000 over seven years.
The Milford, N.H.-based company will employ 135. The tax deal offered was worth
• Continued on next page ...

3. Columbus Directory
• In a sign that manufacturing output is startups through a new business
gaining steam in the region, American accelerator called 10x. Columbus-based
OFFICE SERVICES GROUP
Electric Power reported that sales NCT Ventures LLC has pledged an
increased by $100 million on the backs additional $200,000 for one of the Brett Cisler +1 614 437 4498
of a 7 percent growth of industrial teams completing 10x’s 11-week Andrew Jameson +1 614 437 4500
usage. program this summer. The program is Christopher Potts CCIM +1 614 437 4654
modeled after Silicon Valley’s Y James Corbett CPM CCIM +1 614 410 5651
• The Ohio State University and Third
Combinator and Colorado-based Faye Herriott SIOR +1 614 437 4496
Frontier are offering $20,000 in venture
TechStars accelerator programs.
capital and training to 10 technology John Underman +1 614 437 4499
Paul Heiserman +1 614 437 4497
Retail News From Central Ohio Aaron Duncan +1 614 437 4662
Daniel Dunsmoor +1 614 437 4494
• Big Lots is seeking to expand their Nationwide Boulevard. Leasing agents
in-store offerings by selling alcohol. In of the 4,643-square-foot restaurant
INDUSTRIAL SERVICES GROUP
an effort to boost sales in the grocery space at 401 N. Park St. do not expect
aisle, the closeout retailer has sought a the space to remain vacant for long. Michael Linder SIOR +1 614 410 5628
liquor license for six Ohio stores. Onno Steger +1 614 410 5637
• Dunkin Donuts has been replaced by
Bill Baumgardner +1 614 410 5603
• Bexley has three new shops entering Tim Horton’s at 2 E. Broad St.
Shane Woloshan SIOR +1 614 410 5624
the market: Italian eatery Piada at 2585 downtown. The Dunkin Donuts
E. Main St.; ZenCha Tea Salon at 2396 franchisee was unable to make rent, Joel Yakovac +1 614 410 5654
E. Main St.; and Mediterranean eatery, citing a difficulty to drive sales before 7 Benjamin Johnson +1 614 410 5647
The Barbounia, at 2455 E. Main St. a.m. and after 2 p.m.
RETAIL SERVICES GROUP
• Italian chain, Piada, is wasting no time • Despite the lack of a solution for
opening its third store in a year. After sewage removal, the Penn National Glenn Garland +1 614 410 5649
opening the first store in Central Ohio at Gaming Inc. casino project has broken Lucie Stark +1 614 410 5657
1315 W. Lane Ave. in Upper Arlington ground this month. Smoot Construction Jon Leffler +1 614 410 5638
and the second at 2585 E. Main St. in Co. of Columbus is expected to need
Bexley in May, the firm is now 6495 3,500 workers during the 18-month RESEARCH
Sawmill Road in Dublin. construction period.
Leslie Hobbs +1 614 410 5640
• Urban Active has been downgraded by When completed in late 2012, the Jonathan Badgley +1 614 437 4495
the local Better Business Bureau, who project will employ 2,000; 90 percent of
filed 278 consumer complaints against the jobs are designated for Central Ohio EXECUTIVE LEADERSHIP
the business. Post-contract billing has residents. The casino is projected to
Richard Schuen SIOR CCIM +1 614 410 5612
been the chief concern. There are seven generate $63.2 million in annual tax
Richard Underman CPM CCIM +1 614 410 5617
locations in Central Ohio. revenue for Franklin County, Columbus,
and Franklin Township public schools. Jim Garrett MCR +1 614 410 5652
• As part of a bold national
announcement, McDonald’s Corp is • Matt the Miller’s Tavern, a casual soup,
OUR OFFICES
looking to hire roughly 450 people in salad, sandwich and entree shop,
Polaris | 8800 Lyra Dr | Ste 150
Central Ohio. Each location is going to opened in Grandview this month as one
add three to four part- and full-time of the tenants of the Windsor building. Downtown | 175 S. Third St | Ste 285
positions. The property was rebuilt by
Wagenbrenner Co. after the original
• Arena District trailblazer
structure burned down in 2009.
O’Shaughnessy’s Public House has
closed after more than a decade on
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