November Closed Transactions
Despite continuing interest rate increases which have begun to impact commercial real estate investments, November closed transactions remained steady at NAI Ohio Equities. Our brokerage department closed 20 transactions and leased or sold more than 203,000 square feet. Nearly one-third of closed transactions exceeded $1 million and half of all closed transactions this month were office space, signaling that demand remains.
Included in those large office deals was Telhio Credit Union which sold its 96 N. Fourth Street property. Telhio, which was represented by Mike Simpson, signed a lease last month at 330 Rush Alley at The Peninsula in Franklinton. Telhio plans to move to its new location during the summer of 2023.
Matt Gregory, Andy Dutcher, and Philip Bird represented Grange in leasing roughly 17,000 square feet to Goodwill Columbus. Goodwill plans to relocate its headquarters which will be located at 671 S. High Street in the Grange building. It will also lease 9,800 square feet 605 S. Front Street which will be used to provide free job training services.
Industrial transactions slowed slightly this past month. The largest industrial transaction of the month was the sale of 1513-1519 Alum Creek Drive for $2.7 million. The team of Mike Semon, Dan Sheeran Jr., and Dan Sheeran represented the seller.