Wednesday, February 26, 2025
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Ohio

IndustrialLeasing ActivityMidwestOhio

Omega Morgan Signs 250,020 SF Industrial Lease in Etna, Ohio

by Kristin Harlow

ETNA, OHIO — Omega Morgan has signed a full-building industrial lease totaling 250,020 square feet at The Cubes at Etna – Building D in Etna, about 20 miles east of Columbus. CRG completed development of the speculative facility in January. Located at 10300 Schuster Way, the building is part of The Cubes at Etna, a 305-acre master-planned industrial park. Building D was developed in partnership with an affiliate of LXP Industrial Trust. Omega Morgan works in specialized transportation, heavy rigging and machinery moving services. The company plans to utilize the building for distribution services to the Ohio Valley region. Building D features a rear-load design with a clear height of 36 feet, 32 fully equipped dock positions expandable to 50, 62 trailer stalls and a 60-foot speed bay. The building is supported by a 15-year, 100 percent tax abatement. The facility is located adjacent to the I-70 interchange at State Route 310. Joe Kimener of CBRE represented CRG, while Nick Tomasone of JLL represented the tenant. Contegra Construction served as the general contractor, and Lamar Johnson Collaborative was the architect. The Cubes at Etna has three remaining pad-ready sites that can accommodate build-to-suit users ranging from 250,000 to 800,000 square …

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Affordable HousingDevelopmentMidwestMultifamilyOhioSeniors Housing

Woda Cooper Completes 42-Unit Affordable Seniors Housing Community in Carrollton, Ohio

by Kristin Harlow

CARROLLTON, OHIO — Woda Cooper Cos. Inc. has completed Hemming Crossing, a 42-unit affordable seniors housing community in Carrollton, about 55 miles south of Akron. The three-story development is reserved for residents age 55 and older with incomes between 30 and 70 percent of the area median income. Hemming Crossing represents a $12.5 million investment in the community. Rents range from $315 to $830 per month, depending on income restriction and size of unit. Amenities include a community room with kitchenette, fitness center, grandchild playroom and outdoor playground. The project was made possible with funding supported by Low-Income Housing Tax Credits (LIHTCs) allocated by the Ohio Housing Finance Agency, which also provided an equity bridge loan. Marble Cliff Capital invested in the LIHTCs allocated to Hemming Crossing. Consumer National Bank provided a construction loan and first mortgage, and was a secondary investor in the tax credits. Appalachian Growth Capital provided a second soft mortgage. The project team included PCI Design Group, civil engineer Chadan Engineering and sustainability consultant Sol Design + Consulting. Woda Construction Inc. was the general contractor, and Woda Cooper’s management division, Woda Management & Real Estate, oversees leasing and property management.

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Leasing ActivityMidwestOhioRetail

Ten Retail Tenants Open at Easton Town Center in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — Ten tenants have opened new locations at Easton Town Center in Columbus. CHANEL Fragrance and Beauty Boutique, David Yurman, Louis Vuitton, Hollister, Mugsy, Bluemercury, Tecovas, Rowan, BoxLunch and Mikey’s Late Night Slice are now open. Coming soon to the shopping destination are gorjana, Faherty, Bar Italia, Diamond Cellar and Altar’d State. Easton Town Center is home to more than 250 shops, restaurants and entertainment venues. Steiner + Associates handles leasing and management for the property.

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DevelopmentIndustrialMidwestOhio

Peak Construction to Build 747,000 SF Warehouse for HC Cos. in Middlefield, Ohio

by Kristin Harlow

MIDDLEFIELD, OHIO — Peak Construction Corp. will serve as the design-build contractor for a new 747,000-square-foot warehouse and distribution facility for The HC Companies in Middlefield, an eastern suburb of Cleveland. Scannell Properties is the developer. The project is being constructed adjacent to HC’s existing Ohio manufacturing facility. Site preparation is underway, with completion of the development slated for the third quarter of 2025. The project team includes Harris Architects, Weber Engineer Services and SMBH Structural Engineering. Headquartered in Twinsburg, Ohio, HC works in the horticultural industry and manufactures products for greenhouse, nursery, retail and commercial markets.

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AcquisitionsMidwestMultifamilyOhio

Clear Investment Group Acquires 70-Unit Multifamily Portfolio in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — Clear Investment Group has acquired a 70-unit, value-add multifamily portfolio in Columbus for an undisclosed price. With this addition, Chicago-based Clear expands its presence in the Midwest to more than 450 units, when combined with a larger portfolio purchased in December 2023. CEO Amy Rubenstein says the acquisition aligns with the company’s growth strategy of finding distressed assets in the workforce housing sector.

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Data CentersDevelopmentMidwestOhioTop Stories

Cologix Acquires 154 Acres in Central Ohio, Plans $7B Data Center Campus

by John Nelson

JOHNSTOWN, OHIO — Cologix Inc., a hyperscale data center owner and operator, has purchased 154 acres in Johnstown, a Central Ohio city located about 25 miles northeast of Columbus. The Denver-based company plans to invest $7 billion for the development of a data center campus at the site. Upon completion, Cologix plans to have eight data centers that are “AI-ready” and have the capacity for 800 megawatts (MW) of scalable power. The firm plans to begin construction on the first phase in 2025, with the campus ultimately spanning 2 million square feet of data center space. The new campus will support the region’s advancing digital economy and provide “high-density, ultra-low latency and sustainable infrastructure” for hyperscale clients and enterprises that will tenant these new data centers. Cologix currently operates four data centers in Columbus with a combined footprint of 500,000 square feet and 80MW of power. The company delivered its fourth Columbus data center, a 256,000-square-foot facility dubbed COL4, this past summer. “As the largest provider of colocation and interconnection solutions in Columbus, we are thrilled to deepen our investment in Central Ohio,” says Laura Ortman, CEO of Cologix. “This new campus is more than an expansion — it’s a …

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DevelopmentMidwestOhio

Discovery Builders Breaks Ground on $300M Science Building at Case Western Reserve University in Cleveland

by Kristin Harlow

CLEVELAND — Discovery Builders, a joint venture between Turner Construction, Next Generation Construction, The AKA Team and Adrian Maldonado & Associates, has broken ground on a $300 million Interdisciplinary Science and Engineering Building (ISEB) at Case Western Reserve University in Cleveland. The five-story, 189,000-square-foot building will support innovation in areas such as industrial batteries, sustainable manufacturing, pathogen research and advanced prosthetics. National architecture firm HGA and local partner DVA Architecture designed the facility. Located on the former site of Yost Hall, the project marks the largest on-campus development for the university in decades. It will serve as the largest building on the Case Quad, home to the university’s science and engineering departments. The ISEB will play a critical role in growing the university’s annual research expenditures to $600 million, according to a release. The building will feature a variety of research spaces, including wet and dry labs, core labs and equipment platforms. The project is expected to receive LEED Gold certification. Completion is slated for 2026. Nearly 6,200 undergraduate and 6,100 graduate students from across 96 countries study in Case Western Reserve’s more than 250 degree programs across arts, dental medicine, engineering, law, management, medicine, nursing, science and social work.

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AcquisitionsIllinoisIndianaIndustrialMidwestMinnesotaMissouriOhio

Alterra IOS Acquires Portfolio of Seven Industrial Outdoor Storage Sites Across Midwest

by Kristin Harlow

PHILADELPHIA — Philadelphia-based Alterra IOS has acquired seven industrial outdoor storage (IOS) sites totaling 23 usable acres largely in the Midwest region. The purchase price was undisclosed. The sites are fully leased to a national telecommunications and broadband network company. Each parcel is located across metro areas in Dallas, Minneapolis, Indianapolis, Chicago, Nashville, Cleveland and St. Louis. Specifically, the properties are located in Haslet, Texas; Osseo, Minn.; Indianapolis; Frankfort, Ill.; La Vergne, Tenn.; Avon, Ohio; and St. Peters, Mo. All of the assets in the portfolio are located near city downtowns, interstate highways, international airports and rail networks. CRE Advising facilitated the acquisition.

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Affordable HousingDevelopmentLoansMidwestMultifamilyOhioSeniors Housing

KeyBank Provides $93M in Construction Financing for Affordable Seniors Housing Community in Columbus

by Kristin Harlow

COLUMBUS, OHIO — KeyBank Community Development Lending and Investment (CDLI) has provided a $43.3 million construction loan and $23.8 million in Low-Income Housing Tax Credit financing for construction of The Caravel, a 234-unit affordable seniors housing community in Columbus. KeyBank Commercial Mortgage Group also arranged a $25.9 million Forward Fannie MTEB permanent loan for the project. The Caravel will provide affordable housing for individuals age 55 years or older who earn no more than 70 percent of the area median income. All units will be adaptable to residents with ADA needs, and 25 will be fully accessible. The developer, Kittle Property Group, is partnering with Homeport to provide residents with resources and connect them to services throughout the community. Homeport will provide a service coordinator for residents. Derek Reed and David Lacki of KeyBank CDLI structured the financing. Robbie Lynn of KeyBank Commercial Mortgage Group facilitated the permanent loan placement.

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DevelopmentMidwestOhioRetail

Topgolf to Open Fourth Ohio Location in Akron

by Kristin Harlow

AKRON, OHIO — Topgolf is set to open its fourth Ohio location in Akron on Friday, Nov. 8. The golf venue is located at 600 Swartz Road in the former BigShots Golf Firestone property. Topgolf Akron features 44 outdoor climate-controlled hitting bays spanning two levels. The venue is equipped with Topgolf’s Toptracer technology, which traces each golf ball’s flight path and distance. Guests will receive half-price gameplay from Nov. 8-21, according to a release.

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