Tag: office

It’s been an eventful year in commercial real estate as the recovery drove record-level activity, and now, with activity slowing as a result of interest rate increases intended to temper inflation. As we look forward to next year, our market experts share their insights on what you can expect as we head into 2023. Interest Rates Uncertainty around interest rates will continue to affect decision making for the first half of 2023. After reaching record lows of around 3.5%, and then climbing to the highs of about 6.5% during 2022,…

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Buyers and sellers seem to be at a stalemate when it comes to commercial real estate transactions as of late while the market appears to be undergoing a period of ‘pricing discovery.’ After an onslaught of contributing events, including COVID-19, followed by trillions in fiscal stimulus, and later, Russia’s invasion of Ukraine and supply chain disruptions, the Federal Reserve has taken aggressive measures against rising inflation. November’s rate hike marked the fourth such action taken this year after a long-running stint of ultra-low interest rates. The rise in interest rates…

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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…

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Activity picked up in October with our brokerage department closing 26 transactions, a 30% increase over September, equating to more than 992,000 square feet sold or leased for the month. Our featured transactions for the month were all multimillion-dollar deals, which included long-term leases and renewals. Mike Simpson represented Telhio Credit Union in its search for its newest location. Telhio signed a 10-year lease at 330 Rush Alley at The Peninsula in Franklinton. Citing a desire to be in a progressive area, Telhio sought a location that also offered building…

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September remained steady for our NAI Ohio Equities Brokerage Division and included several multi-million-dollar transactions. Overall, our brokerage department closed 18 transactions for the month and leased or sold more than 282,000 square feet. Our Office Brokerage Group closed six transactions this past month totaling more than 40,000 square feet. Matt Gregory and Andy Dutcher represented AndHealth, a disease-reversal telehealth startup led by CoverMyMeds co-founder, Matt Scantland. AndHealth will occupy 28,000 square feet at Two Miranova. The Industrial Property Team had the largest industrial closing of the month. The team…

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Our brokerage department closed 15 transactions in August. Overall, the brokerage department leased or sold more than 84,000 square feet and 102 acres, which included several million-dollar-plus transactions. Andy Dutcher, Matt Gregory and Philip Bird closed the largest transaction of the month. The team represented Dublin City Schools in the assemblage of three contiguous 32.62-acre parcels by three different sellers. The acquisition of roughly 98 acres of land, was the largest in the district’s history. The parcels were purchased for a combined $6.6 million. The Sheeran Semon Team sold a…

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Our brokerage department closed 23 transactions this past month equating to more than 322,000 square feet. One of the largest transactions of the month featured an office lease completed by our Office Brokerage Group of Matt Gregory, Andy Dutcher and Philip Bird for 605 S. Front Street in the Brewery District. The tenant had outgrown its current space of roughly 5,500 square feet and sought a space that could accommodate its current needs, but would also facilitate the organization’s anticipated future growth. However, this came with a caveat, it didn’t…

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