By: Dan Wendorf, Senior Vice President, JLL
Last month, Midwest Real Estate News hosted more than 200 professional at the Columbus Commercial Real Estate Summit: A Gathering of Industry Experts. I was honored to speak alongside my fellow industry leaders on a panel featuring the importance of ROI in commercial real estate, spotlighting office, industrial, retail, as well as healthcare.
Speakers from leading firms collaborated on a panel called, “Apartment Market Is Hot: How Long Will It Last?” We also heard from a few industry titans on overall market conditions. Regardless of brand affiliation, it was clear that CRE industry leaders care about giving back to the community and helping businesses flourish in a growing market.
Did you miss the event? After chatting with and hearing from industry experts, I noticed a few key topics emerging in discussion. Stay in-the-loop with my three event takeaways below.
Trending in Columbus CRE: 3 Takeaways
- Investor activity is heating up. Across all sectors, investor interest is through the roof in Columbus. We’re seeing new firms bidding on local opportunities, and existing companies adding to their portfolios. Columbus attracts outside investors (both national and international), with its business-friendly, competitive economy—and a highly educated population.If you haven’t seen, JLL research recently released a report that dives into the latest industrial statistics and activities in Columbus. Click here to download the report.
- New development will continue to pop up. During the past year and throughout the first quarter, we saw significant development across the retail, hotel, multi-family, office and industrial sectors. In fact, more than 484,000 square feet of office space was under construction at the end of Q1. What’s more, nearly 40 percent of that space is already pre-leased. On the industrial side, 1,996,800 square feet was under construction at the end of Q4.Looking ahead, experts predict that additional speculative development will be announced this summer. Overall, demand is steady and economic indicators are aligned for continued success. See JLL’s Q1 Insight report for more market statistics.
- Collaboration is key. In one of my favorite sessions, legendary, heavy-hitting developers shared insights on a titans panel. It was incredible to see leaders from competing firms collaborate with respect the other’s market position. Together, we are focused on seeing the entire region achieve ultimate success.
I’d like to offer a big thank you to MREN for hosting the event!
About the Author
Dan Wendorf is a Senior Vice President with JLL working on the Industrial Services team in the Columbus, Ohio office. Dan specializes in tenant representation, agency leasing, and real estate advisory for industrial tenants and investors. View Dan’s full bio to read up on his experience, or connect with him on LinkedIn.