COTA plans to expand public transportation services in Central Ohio through 2015 to improve access to construction sites, stores, and new developments like Grandview Yard. Columbus was named one of three finalists for a sustainable communities award and had 27 Fortune 500 companies, the fifth most of any U.S. city. Unemployment rates declined slightly in Ohio and Central Ohio in April while home sales, job announcements, and development continued in the region.
This document discusses research analyzing the relationship between the financial performance and social/environmental performance of over 1,100 CEOs. The research found no overall correlation but identified some CEOs who excelled in both areas. A few examples of CEOs who delivered great financial returns while also having strong social/environmental performance are highlighted, such as Franck Riboud of Danone and Alessandro Carlucci of Natura. The document also discusses how evaluating CEOs based on both financial and non-financial metrics could help encourage more sustainable, long-term leadership.
This document provides information about the Fall River Office of Economic Development (FROED) and recent economic developments in Fall River, Massachusetts. It summarizes that Amazon has expressed interest in building a 1 million square foot fulfillment center in Fall River, representing a $200 million investment and creating 1,000 jobs. The Fall River City Council will discuss offering Amazon a tax incentive package. Additionally, the document provides statistics on Fall River and surrounding cities, and announces an upcoming workshop on applying lean principles.
Preparing to sell a business requires more than just preparing the business itself. Owners should also prepare themselves for the sale process. While some recommend techniques like meditation to reduce stress, the best preparation comes from experience-based coaching from advisors who have negotiated many business sales. Coaching from BCMS Corporate is effective because they were established by entrepreneurs who have sold their own businesses before. Their experience ensures they can provide owners with the specific guidance needed to feel comfortable during negotiations and maximize the sale price. Personal preparation of the owner through experienced coaching is a key but often overlooked part of a successful business sale.
Law Firm Perspective : Winds of change bring opportunity and a ‘new normal’JLL France
Conditions are highly variable within the real estate markets at the
core of law firm portfolios. A number of markets are seeing rental
cost escalation driven by the diminishing availability of high quality
space options, while others present good opportunities for law firms to
enhance their position.
As clouds continue to build on the macroeconomic horizon, and
caution returns, law firms will need to adopt a forensic approach to the
management of their real estate portfolio. This will ensure that assets
are optimised and that firms outperform their direct competitors.
Opportunism will be evident in some EMEA real estate markets as
law firms react to the changing environment. The traditional focus
on prime locations and trophy buildings will remain, but it will also be
accompanied by a new emphasis on workplace productivity and space
efficiency. This constitutes a ‘new normal’ for those managing real
estate within the legal sector.
- IBM delivered strong results in 2009 despite challenging economic conditions, achieving record pre-tax earnings, record earnings per share, and record free cash flow despite reduced revenues.
- Key factors in IBM's performance included ongoing transformation of the company to focus on more profitable segments like software and services, generating strong profit margins and cash flow, and continued investment in R&D and acquisitions.
- IBM believes it is well positioned for future growth as the global economy recovers due to its leadership in high-value markets and ongoing business model that reliably generates profits and cash.
Cover story on foreign direct investment into the US for Capital Thinking, the custom magazine of leading Washington DC-based law firm Patton Boggs LLP
For my dissertation I am working on a live brief to create a marketing strategy for the brand for the next 3- 5 years. This is a summary of my research findings.
This paper analyzes the effect of minimum wage increases on the retail market. It discusses how a minimum wage hike impacts costs throughout the entire supply chain for retailers, from farm workers to store employees. Retailers may cut costs by reducing employee hours, shifting to slower shipping methods, or having wholesalers cut prices. However, some retailers that focus on customer service may have a harder time reducing staff. The paper concludes that while higher wages help some workers, minimum wage increases place cost burdens on businesses that ripple through the entire retail industry.
This document discusses research analyzing the relationship between the financial performance and social/environmental performance of over 1,100 CEOs. The research found no overall correlation but identified some CEOs who excelled in both areas. A few examples of CEOs who delivered great financial returns while also having strong social/environmental performance are highlighted, such as Franck Riboud of Danone and Alessandro Carlucci of Natura. The document also discusses how evaluating CEOs based on both financial and non-financial metrics could help encourage more sustainable, long-term leadership.
This document provides information about the Fall River Office of Economic Development (FROED) and recent economic developments in Fall River, Massachusetts. It summarizes that Amazon has expressed interest in building a 1 million square foot fulfillment center in Fall River, representing a $200 million investment and creating 1,000 jobs. The Fall River City Council will discuss offering Amazon a tax incentive package. Additionally, the document provides statistics on Fall River and surrounding cities, and announces an upcoming workshop on applying lean principles.
Preparing to sell a business requires more than just preparing the business itself. Owners should also prepare themselves for the sale process. While some recommend techniques like meditation to reduce stress, the best preparation comes from experience-based coaching from advisors who have negotiated many business sales. Coaching from BCMS Corporate is effective because they were established by entrepreneurs who have sold their own businesses before. Their experience ensures they can provide owners with the specific guidance needed to feel comfortable during negotiations and maximize the sale price. Personal preparation of the owner through experienced coaching is a key but often overlooked part of a successful business sale.
Law Firm Perspective : Winds of change bring opportunity and a ‘new normal’JLL France
Conditions are highly variable within the real estate markets at the
core of law firm portfolios. A number of markets are seeing rental
cost escalation driven by the diminishing availability of high quality
space options, while others present good opportunities for law firms to
enhance their position.
As clouds continue to build on the macroeconomic horizon, and
caution returns, law firms will need to adopt a forensic approach to the
management of their real estate portfolio. This will ensure that assets
are optimised and that firms outperform their direct competitors.
Opportunism will be evident in some EMEA real estate markets as
law firms react to the changing environment. The traditional focus
on prime locations and trophy buildings will remain, but it will also be
accompanied by a new emphasis on workplace productivity and space
efficiency. This constitutes a ‘new normal’ for those managing real
estate within the legal sector.
- IBM delivered strong results in 2009 despite challenging economic conditions, achieving record pre-tax earnings, record earnings per share, and record free cash flow despite reduced revenues.
- Key factors in IBM's performance included ongoing transformation of the company to focus on more profitable segments like software and services, generating strong profit margins and cash flow, and continued investment in R&D and acquisitions.
- IBM believes it is well positioned for future growth as the global economy recovers due to its leadership in high-value markets and ongoing business model that reliably generates profits and cash.
Cover story on foreign direct investment into the US for Capital Thinking, the custom magazine of leading Washington DC-based law firm Patton Boggs LLP
For my dissertation I am working on a live brief to create a marketing strategy for the brand for the next 3- 5 years. This is a summary of my research findings.
This paper analyzes the effect of minimum wage increases on the retail market. It discusses how a minimum wage hike impacts costs throughout the entire supply chain for retailers, from farm workers to store employees. Retailers may cut costs by reducing employee hours, shifting to slower shipping methods, or having wholesalers cut prices. However, some retailers that focus on customer service may have a harder time reducing staff. The paper concludes that while higher wages help some workers, minimum wage increases place cost burdens on businesses that ripple through the entire retail industry.
The document provides a summary of economic and real estate development news in Central Ohio. Key points include:
1) Nationwide Realty Investors is moving forward with construction of a parking garage and office building in Columbus, with Columbia Gas expected to occupy the office building.
2) The Licking County Chamber of Commerce is forming a community improvement corporation to attract, retain, and grow local businesses.
3) Blackstone is acquiring 82 office properties from Duke Realty in several US markets including Columbus, involving 2.08 million square feet primarily in Tuttle Crossing and Dublin.
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.
JLL Columbus Office Employment Update February 2015Andrew Batson
The Columbus metro saw modest job growth according to the latest figures from the BLS, adding 8,300 payrolls, annually. Meanwhile, unemployment remains virtually unchanged from the previous month at 3.7 percent, one of the lowest in the U.S.
The Columbus metro added 8,300 payrolls, annually, according to the latest figures from the BLS. Total non-farm employment now sits at roughly one million jobs. Meanwhile, unemployment remains virtually unchanged from the previous month at 3.7 percent.
Cost containment remains key for most tenants in the Columbus office market as many businesses continue to operate with lean workforces. Real estate is generally the second largest expense after personnel, so tenants closely monitor office space and look for ways to consolidate. The government and professional services sectors historically account for the largest portions of occupied office space in Columbus.
The quarterly economic indicators report for Northeast Ohio in Q4 2010 found signs of gradual economic improvement. Manufacturing employment increased by almost 10,000 jobs and services employment increased by 6,000 jobs compared to Q4 2009. The unemployment rate dropped nearly 1% to 9.3% and initial unemployment claims decreased from 7,100 to 5,600 between Q4 2009 and Q4 2010. Republican John Kasich was elected governor of Ohio and plans to establish JobsOhio, a new not-for-profit corporation, to direct economic development and job creation efforts in the state.
The document summarizes economic indicators for Northeast Ohio in Q4 2010. It reports that the region saw improvements over Q4 2009, with manufacturing jobs up almost 10,000 and service sector jobs up 6,000. Unemployment claims and rates decreased from the previous year. John Kasich was elected governor of Ohio and plans to establish JobsOhio to promote economic development. Several development projects were also announced in the region.
"The Columbus economy, not dominated by any single industry, remains strong during times of national economic stress." Courtesy CBRE, this report shows Columbus' progress as an industrial market.
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.
The Mobile Chamber of Commerce put this out showing what is going on in Mobile\'s Economic Development world. We are still working on economic growth and I believe someday when the nation\'s economy improves Mobile will be ahead of the rest.
Check out this mailer we distributed with some samples of our hometown Jeni's Ice Cream. Don't miss the second page with some great info about the Columbus region!
Office-using employment in the Twin Cities increased by nearly 7,000 jobs month-over-month and by more than 12,000 jobs year-over-year in the most recent data from BLS.
This document is an annual mid-year report from Summit Realty Group on the Indianapolis metropolitan real estate market in 2012. It highlights several positive developments at Summit Realty Group, including the opening of an on-site fitness room and the addition of a large mural. It also notes that Summit's property management division has become the second largest in the area and recently took on management of several new properties. Additionally, the report provides statistics on population growth, unemployment, and recognition for Indiana and Indianapolis as a business location.
Office employment sectors contracted over the last year, recording an annualized net loss of 600 jobs. Professional and business services was the only office-using supersector to post employment gains, adding 2,200 jobs, year-over-year
JLL Columbus Office Employment Update May 2015Andrew Batson
Cost containment remains key for most tenants in the Columbus office market as many businesses continue to operate with lean workforces. Real estate is generally the second largest expense after personnel, so tenants closely monitor office space and look for ways to consolidate. The government and professional/business services sectors historically account for the largest portions of occupied office space in Columbus. While the metro area continues expanding and adding jobs, the office employment sector contracted over the last year with a net loss of 600 jobs except for a gain in professional and business services.
The Columbus metro enjoyed strong jobs growth as of late by adding 23,000 payrolls, annually, according to the latest figures from the BLS. Total non-farm employment now sits at roughly 1 million jobs. Meanwhile, unemployment currently stands at 5.0 percent, an increase of 1.1 percent from the previous month.
Cost containment remains important for Columbus tenants as real estate is the second largest expense after personnel. The government and professional services sectors historically account for most office space but government employment declined by 1,500 jobs in the last year. Overall, Columbus metro employment grew by 15,200 jobs while unemployment fell to 3.8% but office employment declined by 2,900 jobs, most in government and professional services. Several Columbus companies like Aver Informatics, Capture Education, and Dynamit Technologies are expanding locally while JPMorgan Chase is cutting an undisclosed number of jobs.
The document provides an outline and details about the Fortune 500 list. It discusses what the Fortune 500 is, who founded Fortune Magazine, and the four main ranking factors (sales growth, assets, earnings, and capitalization). It then lists the top ten companies in 2013, including Walmart at #1, ExxonMobil at #2, and Chevron at #3. For each top company, it provides the CEO name, headquarters location, brief background on the company's performance in 2012-2013, and revenues and profits for the fiscal year.
Columbus MSA employment was up 8,200 (0.8 percent) from March to June, ahead of Ohio’s increase of 0.4 percent and the U.S. increase of 0.6 percent, according to the Q2 economic update report produced by Columbus 2020. Going into the second half of the year, unemployment in the Columbus Region continued to decline at 4.6 percent, compared to June state and national rates of 5.5 and 6.1, respectively.
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 document provides a summary of economic and real estate development news in Central Ohio. Key points include:
1) Nationwide Realty Investors is moving forward with construction of a parking garage and office building in Columbus, with Columbia Gas expected to occupy the office building.
2) The Licking County Chamber of Commerce is forming a community improvement corporation to attract, retain, and grow local businesses.
3) Blackstone is acquiring 82 office properties from Duke Realty in several US markets including Columbus, involving 2.08 million square feet primarily in Tuttle Crossing and Dublin.
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.
JLL Columbus Office Employment Update February 2015Andrew Batson
The Columbus metro saw modest job growth according to the latest figures from the BLS, adding 8,300 payrolls, annually. Meanwhile, unemployment remains virtually unchanged from the previous month at 3.7 percent, one of the lowest in the U.S.
The Columbus metro added 8,300 payrolls, annually, according to the latest figures from the BLS. Total non-farm employment now sits at roughly one million jobs. Meanwhile, unemployment remains virtually unchanged from the previous month at 3.7 percent.
Cost containment remains key for most tenants in the Columbus office market as many businesses continue to operate with lean workforces. Real estate is generally the second largest expense after personnel, so tenants closely monitor office space and look for ways to consolidate. The government and professional services sectors historically account for the largest portions of occupied office space in Columbus.
The quarterly economic indicators report for Northeast Ohio in Q4 2010 found signs of gradual economic improvement. Manufacturing employment increased by almost 10,000 jobs and services employment increased by 6,000 jobs compared to Q4 2009. The unemployment rate dropped nearly 1% to 9.3% and initial unemployment claims decreased from 7,100 to 5,600 between Q4 2009 and Q4 2010. Republican John Kasich was elected governor of Ohio and plans to establish JobsOhio, a new not-for-profit corporation, to direct economic development and job creation efforts in the state.
The document summarizes economic indicators for Northeast Ohio in Q4 2010. It reports that the region saw improvements over Q4 2009, with manufacturing jobs up almost 10,000 and service sector jobs up 6,000. Unemployment claims and rates decreased from the previous year. John Kasich was elected governor of Ohio and plans to establish JobsOhio to promote economic development. Several development projects were also announced in the region.
"The Columbus economy, not dominated by any single industry, remains strong during times of national economic stress." Courtesy CBRE, this report shows Columbus' progress as an industrial market.
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.
The Mobile Chamber of Commerce put this out showing what is going on in Mobile\'s Economic Development world. We are still working on economic growth and I believe someday when the nation\'s economy improves Mobile will be ahead of the rest.
Check out this mailer we distributed with some samples of our hometown Jeni's Ice Cream. Don't miss the second page with some great info about the Columbus region!
Office-using employment in the Twin Cities increased by nearly 7,000 jobs month-over-month and by more than 12,000 jobs year-over-year in the most recent data from BLS.
This document is an annual mid-year report from Summit Realty Group on the Indianapolis metropolitan real estate market in 2012. It highlights several positive developments at Summit Realty Group, including the opening of an on-site fitness room and the addition of a large mural. It also notes that Summit's property management division has become the second largest in the area and recently took on management of several new properties. Additionally, the report provides statistics on population growth, unemployment, and recognition for Indiana and Indianapolis as a business location.
Office employment sectors contracted over the last year, recording an annualized net loss of 600 jobs. Professional and business services was the only office-using supersector to post employment gains, adding 2,200 jobs, year-over-year
JLL Columbus Office Employment Update May 2015Andrew Batson
Cost containment remains key for most tenants in the Columbus office market as many businesses continue to operate with lean workforces. Real estate is generally the second largest expense after personnel, so tenants closely monitor office space and look for ways to consolidate. The government and professional/business services sectors historically account for the largest portions of occupied office space in Columbus. While the metro area continues expanding and adding jobs, the office employment sector contracted over the last year with a net loss of 600 jobs except for a gain in professional and business services.
The Columbus metro enjoyed strong jobs growth as of late by adding 23,000 payrolls, annually, according to the latest figures from the BLS. Total non-farm employment now sits at roughly 1 million jobs. Meanwhile, unemployment currently stands at 5.0 percent, an increase of 1.1 percent from the previous month.
Cost containment remains important for Columbus tenants as real estate is the second largest expense after personnel. The government and professional services sectors historically account for most office space but government employment declined by 1,500 jobs in the last year. Overall, Columbus metro employment grew by 15,200 jobs while unemployment fell to 3.8% but office employment declined by 2,900 jobs, most in government and professional services. Several Columbus companies like Aver Informatics, Capture Education, and Dynamit Technologies are expanding locally while JPMorgan Chase is cutting an undisclosed number of jobs.
The document provides an outline and details about the Fortune 500 list. It discusses what the Fortune 500 is, who founded Fortune Magazine, and the four main ranking factors (sales growth, assets, earnings, and capitalization). It then lists the top ten companies in 2013, including Walmart at #1, ExxonMobil at #2, and Chevron at #3. For each top company, it provides the CEO name, headquarters location, brief background on the company's performance in 2012-2013, and revenues and profits for the fiscal year.
Columbus MSA employment was up 8,200 (0.8 percent) from March to June, ahead of Ohio’s increase of 0.4 percent and the U.S. increase of 0.6 percent, according to the Q2 economic update report produced by Columbus 2020. Going into the second half of the year, unemployment in the Columbus Region continued to decline at 4.6 percent, compared to June state and national rates of 5.5 and 6.1, respectively.
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.
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 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.
1. MAY 2011 / PRODUCED BY COLLIERS INTERNATIONAL RESEARCH
Central Ohio Market News
Economic & Development News
• A new study from the Brookings Grandview Yard and an increase in the
Institute found that the Central Ohio university district.
Transit Authority (COTA) “excels at
INSIDE THIS ISSUE • Columbus-based real estate investment
getting workers to offices in downtown
trust, Glimcher Realty Trust, lost $5.98
Columbus, but could improve at moving
- Former B&T Metals property million in the first quarter. Most of the
being demolished commuters to construction sites or
loss came from additional costs tied to a
suburban stores.” COTA plans to add
- JPMorgan Chase’s Gahanna 2010 deal to buy out its joint venture
more than 30,000 hours of service a year
expansion expected to be partners in the Scottsdale Quarter retail
through 2015 with new service to
permanent development.
- Discount Drug Mart centers MARKET INDICATORS Positive Or
changed hands Trend Location
Negative
Trend Comments
UNEMPLOYMENT OHIO
+ The state’s unemployment rate dipped to 8.6 percent in from 8.9
percent in April
UNEMPLOYMENT COLUMBUS
+ Central Ohio’s unemployment rate decreased to 7.3 percent in April
from 7.6 percent in March
SUSTAINABILITY COLUMBUS
+ The U.S. Chamber of Commerce Business Civic Leadership
Center and the Siemens Corporation named Columbus one of their
three finalists for the Siemens Sustainable Community Awards in
the category of U.S. cities with population over 500,000
FORTUNE 500
COMPANIES
OHIO + Ohio had a total of 27 Fortune 500 companies in the latest ranking,
up four companies from 2010 and No. 5 in the nation, led by New
York with 57.
HOME SALES COLUMBUS - Home sales fell in April compared to April 2010 by 12.5 percent to
9,119 units
LARGEST CITIES COLUMBUS + Columbus regained the position of the 15th largest city in the U.S.
www.colliers.com
2. Office & Medical News From Central Ohio Central Ohio Market News
• Strategic Public Partners, a through loans, so this is great news for
Every month, the researchers at Colliers International
government and public relations the Central Ohio region. in Columbus compile the latest business news in
consulting firm, leased 11,064 square Central Ohio. It’s difficult to make time during the day
• Harry & David, an Oregon-based food- to monitor breaking news and to catch every pertinent
feet of space at 88 E. Broad St.
and-gift company, plans to hire about story, so we make it easy for you to get the
• The 500 to 1,000 temporary jobs that 1,000 temporary workers for jobs in information you need to make informed business
decisions.
JPMorgan Chase is bringing to Gahanna Hebron to cover the holiday shopping
will “likely stick around,” even after the season next fall and winter. The call
bank has wrapped up dealings from the center operation will be re-opening the Central Ohio Market News is a publication compiled
and researched by the Research Department at
mortgage crisis. The bank announced facility to operate in conjunction with Colliers International in Columbus.
last month that they would add the jobs their Medford, Oregon call center.
to the mortgage-servicing arm in
• Morgan Stanley Smith Barney plans Sources: Ohio Department of Development, Business
Gahanna, adding to the 17,000 jobs it First, The Columbus Dispatch, The Daily Reporter,
to hire 250 new wealth-management This Week Daily Newspapers, Wall Street Journal,
already has in the region.
employees at its offices in Easton where ColumbusUnderground.com and Costar.
• Frontier Communications will add 30 it already has 200 workers. The Ohio
full-time employees at its Marion call Tax Credit Authority approved a $1.7
center. million tax credit for the firm’s expansion
• JPMorgan Chase & Co. and
which will increase the payroll by more Want Your News Faster?
than double.
Huntington Bancshares Inc. were
named first and third respectively as the • Brickman Facility Solutions LLC, a Follow us on Twitter at
twitter.com/ColliersCbus
nation’s biggest lenders to small subsidiary of Maryland-based Brickman
businesses in the first half of the Small Group commercial landscape company,
Get links to the latest news stories, commercial
Business Administrations fiscal year. received a seven-year, 50 percent tax real estate news and Colliers International
JPMorgan Chase administered 2,400 credit for its pledge to create 63 jobs in information as it happens.
loans for a total of $448 million while a move to a New Albany office building
Huntington offered 1,190 loans for $188 on West Campus Oval from Marion.
million. Growth in small business
employment is often made possible
Industrial News From Central Ohio
• Davidson Conveyors signed a lease for use the newly acquired 55 acres as a buffer granted an eight-year, 55 percent tax credit
26,000 square feet at 7699 Green or future expansion site. for a manufacturing plant it has under
Meadows Drive in Lewis Center. consideration for the Village of New Albany.
• Demolition has begun on the former B&T
The Ohio Tax Credit Authority granted the
• Advantage Food and Beverage signed a Metals Co. complex in Franklinton. The
credit based on the firm’s consideration of a
lease for 16,000 square feet at 640-682 N. project was given state funding two years
50,000-square-foot facility.
Cassady Ave. ago to clean up environmental hazards at
the site. Los Angeles-based Urban Smart • The tax credit panel also approved a six-
• Columbus-based research giant Battelle
Growth LLC began tearing down 435 W. year, 60 percent tax credit for Johnstown-
paid $554,000 for the Big Darby Creek
Town St. calling the demolition Project based handbag and gift marketer Thirty-
Shooting Range across from its 1,000-acre
Manhattan because the site was used for One Gifts LLC for a planned $6 million
West Jefferson biomedical and military
uranium pellet production. investment in a new facility in Springfield,
research campus. The firm has said it is
which may need more than 500 workers to
“aggressively seeking property,” and will • Jeyes Holdings Inc., a British maker of
operate.
household cleaning products, has been