Thursday, July 9, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Ohio

Affordable HousingDevelopmentMidwestMultifamilyOhio

CASTO Begins Development of $70M Westrich Multifamily Project in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — CASTO has begun development of Westrich, a $70 million multifamily project that is an expansion of the River & Rich apartment community in the Franklinton neighborhood of Columbus. This second phase of development includes 234 units on vacant land adjacent to River & Rich. Completion is slated for 2026. Westrich will be marketed as a separate entity from River & Rich. In addition to CASTO and the Columbus Metropolitan Housing Authority (CMHA), funding partners include The Robert Weiler Co., The Kelley Cos. and Mark Cain of S. Cain Development and Construction. CMHA provided the majority of the construction financing through the issuance of $47.2 million in CMHA general revenue bonds. The project team includes CK Construction, Dimit Architects, landscape architect REALM Collaborative and civil engineer EMH&T. Plans for Westrich include a four-story building with 114 units and a five-story building with 120 units atop 8,000 square feet of first-floor commercial spaces. There will be 229 parking spaces in a garage and adjacent surface lot. A private pedestrian walkway will connect the two buildings and provide access to the amenity deck. The majority of the new units at Westrich will be designated for households earning below 100 percent …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialMidwestOhioSelf-Storage

Marcus & Millichap Brokers Sale of 489-Unit Self-Storage Property in Delaware, Ohio

by Kristin Harlow

DELAWARE, OHIO — Marcus & Millichap has brokered the sale of Premier Storage of Delaware, a 489-unit self-storage property in Delaware near Columbus. The sales price was undisclosed. The facility offers a mix of climate-controlled units, non-climate-controlled units and parking options across 68,053 square feet. Originally built in 1999 with an expansion in 2024, the asset spans a nearly 11-acre lot with room for additional growth. Gabriel Coe, Nathan Coe and Brett Hatcher of Marcus & Millichap represented the undisclosed seller and procured the local buyer. Michael Glass, broker of record in Ohio, assisted in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMidwestMultifamilyOhio

Nationwide Realty Investors Unveils Plans to Build $100M Parkline Multifamily Building at Grandview Yard in Ohio

by Kristin Harlow

GRANDVIEW HEIGHTS, OHIO — Nationwide Realty Investors has unveiled plans to build Parkline, a $100 million multifamily building at the Grandview Yard development in Grandview Heights, just north of Columbus. Located along the north side of Ray DeGraw Park, the six-story property will house 385 apartment units designed in a “s-shaped” configuration to maximize views of the park and courtyards. The project will feature first-floor amenities and commercial spaces along Yard Street. Plans also call for an adjacent parking structure, bringing the neighborhood total to nearly 6,000 parking spaces. Since the first phase opened in 2010, Grandview Yard has transformed what was once a blighted industrial district into a mixed-use development. National Realty Investors’ total investment in Grandview Yard has surpassed $1 billion. Construction of Parkline is expected to begin in late 2024 with completion slated for 2026.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMidwestOhioRetail

AEG Presents, Jacobs Entertainment to Build 1,200-Seat Globe Iron Event Venue in Cleveland

by John Nelson

CLEVELAND — AEG Presents and Jacobs Entertainment Inc. have announced plans to develop Globe Iron, a new 1,200-seat live event venue in Cleveland. The companies plan to open the multi-purpose facility, which will feature an indoor concert hall and open-air courtyard, in March 2025. Situated on the West Bank of Cleveland’s Flats district, the project will be situated on the site of the former Globe Iron Works Foundry that dates back to 1853. Jacobs Entertainment will develop Globe Iron while AEG Presents will build-out and operate the property. AEG Presents expects to add 150 events to Cleveland at Globe Iron, including corporate functions, weddings, conferences, award shows and fundraisers.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialMidwestOhio

Alterra IOS Acquires Two Industrial Outdoor Storage Sites in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — Alterra IOS, an industrial outdoor storage (IOS) company, has acquired two IOS properties totaling 22.3 acres in Columbus for an undisclosed price. The sites include 4080 Business Park Drive and 2222 New World Drive. Both are located minutes from downtown, offering tenants convenient access to major interstates, national rail networks and international airports. The property at 4080 Business Park Drive totals more than eight acres and features 20,120 square feet of accompanying warehouse space. A full-service trailer leasing provider entered into a long-term lease agreement at closing. Ascension Advisory negotiated the sale. The facility at 2222 New World Drive includes 14 acres with 50,238 square feet of accompanying warehouse space. JLL brokered the sale. Alterra now owns six sites in the Columbus area.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialMidwestOhioRetailSelf-Storage

U-Haul Repurposes Abandoned Retail Lot into New Store in Warren, Ohio

by Kristin Harlow

WARREN, OHIO — U-Haul has repurposed a 7.8-acre retail lot formerly home to a Chase bank and Tops Friendly Market grocery store in Warren, about 50 miles southeast of Cleveland. U-Haul Moving & Storage of Warren North, located at 3394 Elm Road NE, is currently serving customers out of a temporary retail showroom and is scheduled to complete renovations by summer 2025. Services immediately available include moving truck rentals, trailers, towing devices, boxes and moving supplies. Plans call for the addition of 1,000 indoor climate-controlled self-storage units with high-tech security features. The 69,000-square-foot complex will host a warehouse space that can store up to 500 U-Box portable moving and storage containers. Once renovations are finished, the store will also offer services such as professional hitch installation and propane.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMultifamilyOhioSeniors Housing

ESI Arranges Sale of Three-Property Seniors Housing Portfolio in Western Ohio

by Kristin Harlow

OHIO — Evans Senior Investments (ESI) has arranged the sale of a three-property seniors housing portfolio in western Ohio for an undisclosed price. The seller was Mariner Management Group Inc., an independent owner and operator seeking to exit the industry. The buyer was an owner-operator in the state. The portfolio, which was built in stages between 1990 and 2013, consists of 317 licensed skilled nursing beds and 209 seniors housing units.

Continue Reading
FacebookTwitterLinkedinEmail
Duke Energy Convention Center, Cincinnati
CivicDevelopmentMidwestOhioTop Stories

City of Cincinnati Begins $240M Renovation at Duke Energy Convention Center, Names ASM Global as Operator

by Jeff Shaw

CINCINNATI — The City of Cincinnati has selected ASM Global to open and operate the Duke Energy Convention Center (DECC), which is currently undergoing a $240 million renovation. The 750,000-square-foot facility closed for construction on July 1. Once renovations are complete, DECC will feature upgraded meeting space and ballrooms, an expansive rooftop terrace and major improvements to building systems and technology, making it more energy efficient. The project will add 12,000 square feet to the exhibit hall. Plans also call for the construction of a two-acre park and outdoor convention area. The convention center is slated to reopen in January 2026. Prior to closing for renovations, the venue hosted 63 events in 2024 with more than 292,540 attendees combined. DECC will be part of a new convention district in the city. Plans include a $480 million new convention headquarters hotel, which is being constructed on an existing surface parking lot just south of the convention center. Once completed, the hotel will feature 800 rooms, as well as 80,000 square feet of flexible meeting space with junior and senior ballrooms, 15,000 square feet of retail space, a pool and outdoor amenity deck. “The operations and management of the reinvented DECC will …

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialMarket ReportsMidwestMidwest Market ReportsOhio

Examine the Cincinnati Industrial Market with Perspective, Patience in Mind

by Kristin Harlow

By Jeff Bender, Thomas McCormick and Seattle Stein, Cushman & Wakefield We’ve been doing this for a while. Every cycle with gang-busters demand and absorption comes to an end, as does every downturn. So, with the Cincinnati industrial market, we find ourselves in the doldrums since mid-2023, and we may not fully turn the corner until next year.  Perspective and context matter, though. We’re coming off record absorption and demand at the end of 2020 and through 2022, when we also closed the year with an unsustainable 1.7 percent vacancy rate. Before the entire world paused for COVID in early and mid-2020, we had a record year in 2019 as well.  While vacancy hovers around 6 percent at mid-year, that is basically the Cincinnati industrial market’s historical average. Four consecutive quarters of negative net absorption certainly defines “doldrums,” but that must be weighed against the previous 48 consecutive quarters of positive net absorption through mid-2023. We’ve also seen a slight increase in asking rental rates, up to $6.25 per square foot, despite negative absorption. So, despite a lackluster past 12 months, we have positive momentum, and that’s bolstered by many of the factors that have always made Cincinnati one of …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts