News 

Thinking About Investing in Multifamily? Start Here.

Overall, 2021 was a strong year for NAI Ohio Equities. December closings included several land deals and office leases. One of our largest transactions for the month was the sale of Huntwork Gardens, a multifamily portfolio located in Pickerington, Ohio, consisting of 24 units. Huntwork Gardens presented investors with a well-maintained asset that offered both short and long-term paths for return on investment. The 100% occupied property had current rents well below the submarket average which created an opportunity for investors to capitalize on the rent delta. The condition and…

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Commercial Real Estate 101 

Seven Ways to Prepare for an Industrial Property Search Heading into 2022

The landscape for acquiring industrial property has changed dramatically over the past year. After brick-and-mortar retail came to a screeching halt in early 2020 due to the COVID -19 pandemic, online purchases soared, and since then, retailers have been leasing the existing industrial warehouse space in Columbus, Ohio, at an unparalleled pace. The NAI Ohio Equities Industrial Property Team explained that their business has flip-flopped with the majority of their 2021 representation being on the tenant side, where it has traditionally been on the landlord side. Industrial warehouse space is…

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News 

Office Space is Desired in Central Ohio – If it’s the Right Kind

November transactions remained steady for NAI Ohio Equities. Our team closed more than 25 commercial real estate transactions, equating to more than 662,400 square feet. Of the month’s transactions, nearly one-third were office space. The conversation about remote work and whether or not to return to the office is continuing as we approach 2022 and round out the second year of the pandemic. Though recent trends such as “The Great Resignation” have fueled the fire with regard to remote work, there are signs that organizations want employees back in the…

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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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News 

July Transactions – Another Hot Month for Central Ohio Real Estate

July was another busy month for NAI Ohio Equities. Our office closed on another record number of industrial, office and retail properties. One of our large office sales included the sale of the former Volunteers of America building located at 1776-1780 E. Broad Street. It was sold for $3,510,000. You can read more about the sale here. The Central Ohio Commercial Real Estate market continues to be a great market for both small businesses and larger corporations. Get in touch with us if you need an opinion of value on…

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open office space Commercial Real Estate 101 

Space: the Not-So-New Amenity Everyone Wants

Commercial real estate trends are always adapting. The best-selling features of today aren’t always the same ones we’ll see tomorrow. In this business, keeping up with the latest requires due diligence into the market’s hottest items. The ebbs and flows of tenant demands make it imperative for CRE pros to stay abreast of what’s selling and what’s not. Right now, a new trend is emerging on the radar of real estate development. No, it’s not a new technology or lifestyle toy – it’s space. Space has always been a popular…

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August 2020 Transactions News 

Want to Know What Properties Sold or Leased in August?

Our office closed on over 20 properties during the month of (normally slow) August. Some of our larger transactions included the sale of office buildings and industrial leases. Let us know how we can help you buy, sell, or lease commercial property in Central Ohio!

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