Commercial Real Estate 101 

What You Should Know About a Broker Opinion of Value

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

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News 

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

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

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News 

Steelton Village Rebirth Attracts Small Businesses to The Fort

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

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News 

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

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

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self storage units Commercial Real Estate 101 

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

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

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