Commercial Real Estate News
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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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Hey there, real estate investor: Are you ready to take the plunge from residential to commercial?
Come on in – the water’s fine. Especially if you prepare yourself by doing some research to sail the seas of commercial real estate investment. DRK and Company offers the following information to consider when it comes to commercial property investments:
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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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One doesn’t create a legacy overnight.
Donald R. Kenney has spent the past five-plus decades creating his.
In 1966, Kenney – a Columbus native who had recently attended The Ohio State University – founded Donald R. Kenney & Company Realtors. In the five-plus decades since then, DRK has overseen the development of more than 50,000 multifamily and extended-stay units.
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As the saying goes, rules were meant to be broken – well, at least adopted, amended or rescinded.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.
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Business – and commercial real estate (CRE) – moves at the speed of light. In 2018, it seemed to have pushed the gas pedal down just a bit farther.
During the first half of the year, CRE transactions were up 13% year over year, all the way up to $341 billion. Whoa. In America, that volume went up by 11%, all the way up to $122 billion. The U.S. remains the most popular CRE market in the world, with Hong Kong and China behind it.
This upward trend is expected to continue to start off 2019, although some experts believe the CRE market is nearing its top and expect the growth to slow considerably.