REBusinessOnline

VanTrust Breaks Ground on 1 MSF Warehouse Near Rickenbacker International Airport

COLUMBUS, OHIO — VanTrust Real Estate has broken ground on a 1 million-square-foot speculative warehouse near the Rickenbacker International Airport in Columbus. VanTrust will build the project on land that it acquired from K-Nova LLC earlier this year. The master-planned industrial park will be known as Rickenbacker Exchange at Commercial Point and encompasses more than 900 acres of shovel-ready logistics and manufacturing ground. VanTrust says it can accommodate an additional 1.2 million …

Herman & Kittle Properties Opens $50.6M Affordable Housing Property in Columbus

COLUMBUS, OHIO — Herman & Kittle Properties Inc. has opened Riverside Trail, a $50.6 million affordable housing property in Columbus. The community’s 248 units are available to residents who earn at or below 60 percent of the area median income. Located on Chatterton Road, the project features one-, two-, three- and four-bedroom layouts that range from 809 to 1,453 square feet. Amenities include a pool, fitness center, game room, dog park and outdoor grilling

LemonShark Poké & Makai Grill to Open at Easton Town Center This Fall

COLUMBUS, OHIO — LemonShark Poké & Makai Grill is opening its first Ohio restaurant at Easton Town Center in Columbus. The Hawaiian-themed establishment, which offers sushi, hibachi-style grilled meats and seafood, is scheduled to open in late fall. A staple of Hawaiian cuisine, Poké incorporates variations of marinated seafood typically over sticky rice with vegetables and sauces. Guests at the restaurant will also enjoy a bar and island-themed drinks. Developed by The Georgetown Co., …

Flaherty & Collins Breaks Ground on $250M Phase I of The Peninsula Mixed-Use District in Downtown Columbus, Ohio

COLUMBUS, OHIO — Flaherty & Collins Properties has broken ground on Phase I of The Peninsula, a $500 million mixed-use redevelopment of 27 acres of land along the Scioto River in downtown Columbus. The $250 million first phase of development will include ONE at the Peninsula, an $85 million apartment complex featuring 12,000 square feet of ground-floor retail; an eight-story, 232,000-square-foot speculative office building; and a 132,000-square-foot, 197-key independent …

Grandbridge Provides $10M Refinancing for Columbus Multifamily Property

COLUMBUS, OHIO — Grandbridge Real Estate Capital has provided a $10 million Freddie Mac loan for the refinancing of Worthington Commons in Columbus. Built in 1973, the multifamily property is home to 156 rental townhome units. Ted Schmidt of Grandbridge arranged the fixed-rate, nonrecourse loan. It features a 10-year term and 30-year

Gelt Financial Provides $3M Loan for 152-Unit Multifamily Community in Columbus

COLUMBUS, OHIO — Gelt Financial has provided a $3 million first mortgage loan for Crown Pointe Apartments in Columbus. The multifamily community, built in 1989, features 152 units. Loan proceeds of the two-year bridge loan will be used for property improvements. South Florida-based Gelt says it plans to close an additional $15 million in non-stabilized property loans by the end of the

Kroger’s Digital Sales Surge 127 Percent in Second Quarter

CINCINNATI — The Kroger Co. (NYSE: KR) has reported that its digital sales surged 127 percent in the second quarter, which ended Aug. 15. Consumers have been buying more groceries online as a result of the coronavirus. “Investments made to expand the company’s digital ecosystem are resonating well with customers,” says Rodney McMullen, chairman and CEO.In addition, the Cincinnati-based grocer’s operating profit of $820 million was up 43 percent compared with the same period a year …

NorthMarq Arranges $13.5M Acquisition Loan for Office Campus in Beavercreek, Ohio

BEAVERCREEK, OHIO — NorthMarq has arranged a $13.5 million loan for the acquisition of The Acropolis at Fairfield Commons in Beavercreek near Dayton. The 211,576-square-foot office property is located at 2611-2689 Commons Blvd. Susan Branscome of NorthMarq arranged the fixed-rate, 10-year loan, which features a 25-year amortization schedule. A life insurance company provided the

Cooper Group Brokers $2.3M Sale of Credit Union Ground Lease in Suburban Columbus

REYNOLDSBURG, OHIO — Cooper Commercial Investment Group has brokered the $2.3 million sale of a Wright-Patt Credit Union ground lease in Reynoldsburg, a suburb of Columbus. The building was still being constructed at the time of closing. Bob Havasi and Dan Cooper of Cooper Group represented the seller, an Ohio-based private developer. A New York-based private investor was the buyer. The cap rate was 5.5

Huntington Bank Unveils $20B Philanthropic, Community Building Plan

COLUMBUS, OHIO — Huntington Bank has unveiled a $20 billion, five-year lending, investment and philanthropic commitment to help improve financial opportunities for the bank’s consumers, businesses and communities within its seven-state footprint. The Columbus-based bank has designated $7.6 billion for helping businesses, $7.5 billion for homeownership and $4.9 billion toward community efforts related to affordable housing, food security, workforce development and social equity. Huntington …

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