Commercial Real Estate News
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The good news? The economy is booming.
The bad news? Economists say it may be busting in a matter of months.
By most accounts, the U.S. economy is in its best shape since the Great Recession. The unemployment rate is at a minuscule 3.9%. Hourly wages are up more than 3% over a year ago. The gross domestic product (GDP) climbed 3.1% in the first quarter of 2019, after rising 2.2% in the fourth quarter of 2018.
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Located at 470 Olde Worthington Rd. in Westerville, Ohio, this is a Class-A multi-tenant office building was built in 2000. The four-story building is a modern brick design with architectural precast and stucco accents. Parking ratio is 4.0/1,000 rsf.
This well-maintained property offers on-site professional property management and fiber connectivity through multiple carriers. Fiber and data services are also available through the city of Westerville WeConnect network, and employees working in this building can also take advantage of the Westerville Community Center at resident rates. The property is controlled by key card access. Recent common area renovations include restroom updates and fixture replacements, a new energy management system, new common area finishes, LED lighting, asphalt overlay, and new brick entry feature.
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Located in the heart of Dublin, Ohio, Millennium Office Park is located in a park-like setting off of Frantz Road, just 25 minutes from John Glenn International Airport. Surrounded by established landscaping and mature trees, Millennium Office Park provides individual entryways, ample parking and easy access to hotels, dining, shopping, and various events.
This property is just minutes away from Tuttle Crossing, I-270 and State Route 33/161, making for easy access to and from all of metropolitan Columbus.
With leasing and professional property management teams on-site, this site will continue to be an attractive location for small businesses and their clients.
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Pop quiz: Which state was second in the country last year for corporate investment?
All together: O-H. … I-O!
That’s right – the Buckeye State ranked as second overall in the U.S. for corporate expansions in 2018, according to Site Selection magazine’s annual rankings of business activity. Furthermore, the Columbus region was seventh among American cities, its second-straight year in the spot and 10th straight appearance in the Top 10.
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You’re a smart business owner - you probably could secure a new commercial property on your own. But you’re a smart business owner with a lot on your plate – you would also probably spend thousands of dollars more and grow a few more gray hairs than if you used the services of a broker.
Securing a commercial real estate lease is one of the most important aspects of being a business owner. Having one that looks out for your best interests, both in the short and long term, can be a strong foundation for your success. A poorly crafted lease can sabotage your business, even if you have a solid business model.
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As the saying goes, rules were meant to be broken – well, at least adopted, amended or rescinded.
The Ohio Division of Real Estate and Professional Licensing is required to conduct a review of its rules every five years. The latest review was completed in early 2019, with the new laws and rules going into effect in February.