The document provides a summary of economic and real estate development news in Central Ohio. Key points include: 1) Nationwide Realty Investors is moving forward with construction of a parking garage and office building in Columbus, with Columbia Gas expected to occupy the office building. 2) The Licking County Chamber of Commerce is forming a community improvement corporation to attract, retain, and grow local businesses. 3) Blackstone is acquiring 82 office properties from Duke Realty in several US markets including Columbus, involving 2.08 million square feet primarily in Tuttle Crossing and Dublin.

1. OCTOBER 2011 / PRODUCED BY COLLIERS INTERNATIONAL RESEARCH
Central Ohio Market News
Economic & Development News
• Arena District developer Nationwide site of the planned garage and a
Realty Investors Ltd. is moving toward the 280,000-square-foot office building.
construction of a 1,225-slot parking which Columbia Gas expects to occupy in
INSIDE THIS ISSUE garage between Nationwide Arena and 2014.
Neil Avenue, ahead of construction of an
• The Licking County Chamber of
- Duke Realty unloads office office complex to be anchored by
properties in central Ohio Commerce is teaming with the county
Columbia Gas of Ohio, Inc. The
onto Blackstone government to form a community
Downtown Commission will consider the
improvement corporation which will
- Nationwide Arena to be sold planned, four-level parking garage at a
create a one-stop approach for Licking
to county meeting in late October. The $12 million
County’s efforts to attract, retain and
project, designed by the Columbus office
- Numerous other office grow businesses. The Chamber is trying
properties sold of Kansas City’s 360 Architecture, will
to raise $750,000 over the next three
replace 525 surface parking spots on the
years.
MARKET INDICATORS Positive Or
Negative
Trend Location Trend Comments
UNEMPLOYMENT OHIO
- The state’s unemployment rate remained 9.1 percent in September
from 9.1 percent in August.
UNEMPLOYMENT COLUMBUS
+ Central Ohio’s unemployment rate fell to 7.8 percent in August
from 8.2 percent in July.
HOME SALES COLUMBUS + Home sales rose in September 2011 compared to September 2010
by 17 percent with 1,719 single-family units.
FORECLOSURES OHIO + Home foreclosures declined by 1.5 percent in August 2011 from
August 2010.
www.colliers.com

2. Office & Medical News Central Ohio Market News
• Fairway Acquisition LLC purchased the Easton mixed-use development in
Every month, the researchers at Colliers International
Park Place Center shopping center off northeast Columbus. Duke said the deal in Columbus compile the latest business news in
Route 23 ,north of Worthington, with moves the company toward its goal of Central Ohio. It’s difficult to make time during the day
plans to redevelop the distressed creating a portfolio with 60 percent in to monitor breaking news and to catch every pertinent
story, so we make it easy for you to get the
property. The firm paid Regency Centers industrial buildings, 25 percent in office information you need to make informed business
LP of Jacksonville, Fla., $2.06 million in properties and 15 percent in medical decisions.
August for the 107,000-square-foot office real estate. The company will still
center between Lazelle Road East and have about $2.5 billion worth of office Central Ohio Market News is a publication compiled
Dillmont Drive. The center is about 75 properties remaining in its portfolio. The and researched by the Research Department at
Colliers International in Columbus.
percent vacant, including a deal is set to close December 1.
57,000-square-foot anchor store space
• One Columbus, at 10 West Broad
abandoned by Big Bear Stores Co. nearly Sources: Ohio Department of Development, Business
Street, was sold to True North First, The Columbus Dispatch, The Daily Reporter,
eight years ago. This Week Daily Newspapers, Wall Street Journal,
Management Group by Invesco Real
ColumbusUnderground.com and Costar.
• Drug manufacturer, PharmaForce Inc., Estate. The 407,340-square-foot facility
has pledged to add 57 jobs through 2014 was 70 percent occupied and sold for
as it expands capacity at its plant at 4150 $27 million, a 47 percent discount from
Lyman Drive. Hilliard has offered the $51.5 million it was purchased for in
PharmaForce a seven-year incentive 1999. Want Your News Faster?
deal that would pay an amount equal to
• Windsor Terrazza LLC, an affiliate of Follow us on Twitter at
15 percent of the local payroll taxes
Westerville-based Windsor Cos., bought twitter.com/ColliersCbus
generated by its new jobs. The incentive
buildings at 6460 Busch Blvd., 6600
is valued at about $40,000 over seven
Busch Blvd. and 6660 Doubletree Ave. Get links to the latest news stories, commercial
years and is capped at $62,480. real estate news and Colliers International
for a combined $1.5 million. The information as it happens.
• Blackstone is paying Duke Realty Corp. purchase price amounted to $13.20 per
$1.08 billion for 82 buildings in seven square foot for the combined 113,605
suburban markets, including those square feet in the portfolio.
outside of Dallas, Atlanta, Minneapolis
• DataCenter.BZ has completed a
and Columbus. Blackstone will acquire 19
34,000-square-foot expansion of its data
suburban office properties in Franklin
center on Scherers Court in Columbus.
County. The sale in Columbus involves
The expansion will allow the company to
office buildings with a combined 2.08
increase its work force from 12 to 17. No
million square feet, primarily in the Tuttle
tax incentives or government aid were
Crossing mixed-use development in
used, the company said.
northwest Columbus and Dublin and the
Retail News
• Franchisees for Columbus-based • Developer Mark Wagenbrenner is • Franklin County Convention Facilities
Escape Enterprises Ltd. have opened a moving ahead on a $5.9 million shopping Authority, a joint Columbus-county
Steak Escape Grille in Newark, one of 20 center near Lincoln High School in organization that would own Nationwide
locations expected to open this year. A Gahanna that will provide a non-tax Arena, will pay $42.5 million the
franchised restaurant at Grandview revenue stream to the Gahanna-Jefferson Nationwide Arena to Nationwide Mutual
Avenue and Dublin Road opened in July Public School district. The district’s Board Insurance Co. and Dispatch Printing Co.,
and other new locations are in the works of Education approved an 85-year lease using a portion of casino tax revenue to
for New Albany, Pickerington, Marion and for a 23,600-square-foot retail strip on fund the purchase and subsidize arena
Circleville. North Hamilton Road, catty-corner from operations.
the high school and next to its new Clark
Hall annex.

3. • Kohl’s is opening four stores in Ohio, Broad & High development downtown.
Columbus Directory
including one in Grove City. The four The firm expects to move as early as
Ohio stores — including ones in Alliance, November into 1,200 square feet at 14 OFFICE SERVICES GROUP
Miamisburg and St. Marys — are part of N. High St. between a Tim Horton’s and Brett Cisler +1 614 437 4498
a broader move today by the company to a Burgers Dogs and Fries.
Andrew Jameson +1 614 437 4500
open 30 stores, creating approximately
• The Columbus Regional Airport Christopher Potts CCIM +1 614 437 4654
4,000 jobs. The Grove City store, at
Authority is in contract to pay $1 million James Corbett CPM CCIM +1 614 410 5651
1548 Stringtown Rd., is one of 111 Kohl’s
for one of the five hotels that sits on John Underman +1 614 437 4499
stores built since fall 2008 that received
property leased adjacent to Port
Leadership in Energy and Environmental Paul Heiserman +1 614 437 4497
Columbus’ terminal building. All five
Design initial certification at the silver Aaron Duncan +1 614 437 4662
were put up for sale in early 2009, with
level from the U.S. Green Building Daniel Dunsmoor +1 614 437 4494
the owner seeking rent concessions
Council. The stores have on-site
after Platinum Ridge fell behind on rent Kathryn Aiken +1 614 437 4556
recycling, water-efficient landscaping
and tax payments. Platinum Ridge paid
and regionally sourced building
original developer Don Kenney $29.5 INDUSTRIAL SERVICES GROUP
materials.
million for the five hotels in 2005. Michael Linder SIOR +1 614 410 5628
• An Edible Arrangements franchisee
Onno Steger +1 614 410 5637
has signed a five-year lease at the
Bill Baumgardner +1 614 410 5603
Shane Woloshan SIOR +1 614 410 5624
Industrial News Joel Yakovac +1 614 410 5654
Benjamin Johnson +1 614 410 5647
• Pataskala officials have opened new • Ohio Turnpike tolls are expected to go
areas for construction called Pataskala up Jan. 1, despite an earlier proposed
RETAIL SERVICES GROUP
Corporate Park. Roughly 520-acre freeze and opposition from truckers.
expanse of farmland between Rt. 16 and Turnpike Commission Chairman Jerry Glenn Garland +1 614 410 5649
Rt. 40, including a state-certified, “ job- Hruby has said the increase, which is Lucie Stark +1 614 410 5657
ready” site of nearly 300 acres, is being about 10 percent for trucks and cars, is Jon Leffler +1 614 410 5638
promoted as close to Port Columbus necessary and already in the budget.
and I-70, as well as having access to RESEARCH
• Ares Sportswear Ltd., along with its
infrastructure and a railroad.
Dyenomite tie-dyeing affiliate, Leslie Hobbs +1 614 410 5640
• Magna Quad I, at 1120 Morrison Road announced plans for a 90-employee Jonathan Badgley +1 614 437 4495
in Columbus, was purchased by STAG expansion once it relocates its specialty
Industrial REIT from Hollingsworth T-shirt and sportswear operation to EXECUTIVE LEADERSHIP
Capital Partners. The 385,655-square- 3700 Lacon Road
Richard Schuen SIOR CCIM +1 614 410 5612
foot building was fully occupied and
• Pizzuti and Cabot Industries are Richard Underman CPM CCIM +1 614 410 5617
sold for $7.8 million, or $20 per square
marketing assets in Columbus Jim Garrett MCR +1 614 410 5652
foot.
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