Acoustic Ceiling & Partition of Ohio Acquires 691-697 Green Crest Drive in Westerville, OH

 

 

 

Rj BOLL represented Acoustic Ceiling & Partition of Ohio (ACP) on the acquisition of its new location in Brooksedge Corporate Center at 691-697 Green Crest Dr., Westerville, Ohio.   This 19,320 square foot multi-tenant investment property will be the relocation site of ACP’s Columbus division.  ACP will occupy 10,000 square feet of remodeled space within the building.  Two additional tenants occupy the building: Archive Data Solutions, LLC and Kingfisher Medical, Inc.  In addition, Rj BOLL Realty assisted ACP on the sale and disposition of its existing Dublin facility at 7686 Fishel Dr., consisting of 10,902 square feet of office/warehouse space.

Located in the Brooksedge Corporate Center, ACP’s new locations is conveniently situated near the intersection of Schrock Road and State Street, with close proximity to Uptown Westerville; easy access to I-270, I-71 and SR 161.

For additional information on ACP visit www.acpohio.com

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Columbus Commercial Market Report – Q1 2016

 

 

The Columbus Commercial Market is starting 2016 off with a bang! Rental Rates continue to rise and vacancy rates are steadily dropping from what was reported in 2015. Both the Office and Industrial Markets are poised to continue to show strong numbers as the inventory shrinks.

The Columbus Office Market experienced a positive net absorption of over 203,000 square feet in the First Quarter. The vacancy rate fell from 14.1% in Q4 2015 to just under 12% in Q1 2016. Eight new office buildings, totaling 1.3 million square feet, are currently under construction.

The Southeast Industrial Sub-Market showed the highest level of net absorption at just over 1.4 million square feet. Subsequently, vacancy rates fell this Quarter to 6.6% from 6.8% in Q4 2015. The Industrial Market currently has 3.4 million square feet of warehouse space under construction. Included in that, Amazon has 1.8 million square feet in development in the Southeast and Licking County Sub-Markets.

You can read the full market reports below.

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AMG Peterbilt Purchases Truck Maintenance Facility at 3815 Zane Trace Drive

 

 

Ray and Jeff Boll of Rj BOLL Realty represented AMG Peterbilt in its recent acquisition of a new truck maintenance facility at 3815 Zane Trace Drive.  This facility provides 15,736 square feet of space, situated on 2.18 acres of land, for AMG Peterbilt to utilize in its truck maintenance, sales, leasing, and service operations.

AMG Peterbilt is a full service Peterbilt dealership, offering new & used truck sales, heavy duty truck parts, and full-service repair, as well as truck rental/leasing.  This new location provides an excellent west-side location, one exit north of I-70 at the new Roberts Rd. and I-270 interchange.  AMG Peterbilt has three other locations in Plain City, Dublin, and Marietta, Ohio.  More information about AMG Peterbilt can be found at www.amgpeterbilt.com

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Columbus Commercial Market Report – Q4 2015

 

For Q4 of 2015, the Columbus Industrial Market continues to report strong figures as the inventory continues to be leased and sold at pre-recession rates.  The overall vacancy rate remained relatively steady at 6.7%.  The Southeast Industrial Submarket recorded the highest level of net absorption for the quarter with over 1.7 million square feet.

The Office Market reported a vacancy rate of 12.3%, similar to the rates seen in Q3 of 2015. The Central Business District (CBD) Office Submarket reported at positive net absorption of 53,868 square feet.  To read the full reports from Xceligent, click the links below.

With inventory dwindling and the market becoming tighter and tighter, now is the time to lease or buy.  Contact the trusted professionals at Rj BOLL Realty to help you search, select, and secure your ideal space today.

 

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Rj Boll Realty’s Twenty-Year Anniversary

 

 

Rj BOLL Realty is proud to celebrate twenty years serving the Greater Columbus area. Thank you to all of our customers, employees, and agents for making our firm a trusted name in commercial real estate. Our valued relationships are the keys to our success!

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Round Hill Furniture – Expansion and Relocation

Rj BOLL Realty would like to congratulate Round Hill Furniture on their recent purchase of 3640 Zane Trace Drive, Columbus, OH 43228 (pictured above); a 200,000 square foot distribution warehouse on the west side of Columbus, more than double the space of their current central Ohio distribution space. Round Hill Furniture was established in 2001 in Columbus, OH and is one of the largest wholesale distributors of bedroom sets, dining, living room, and accent furniture in the mid-west. Round Hill Furniture is dedicated to providing its clients with expertise and reliability that comes from twenty years’ experience in furniture import and wholesale.

Round Hill Furniture has continued to grow year after year and as a result they have out grown their current 95,000 square foot building located at 5357 Crosswind Drive, Columbus, OH 43228. Ray Boll and Jeff Boll of Rj BOLL Realty were vital in identifying the property and negotiating the final terms of the sale, and have been retained to list Round Hill Furniture’s current building while they transition into the new facility.

Listing information can be found in the links below:

http://www.loopnet.com/lid/19472141 – Sale Information

http://www.loopnet.com/lid/19472148 – Lease Information

 

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Columbus Commercial Market Report – Q3 2015

For the 3rd Quarter of 2015, the Columbus Industrial and Office Markets continue to remain strong with historic low vacancy rates as inventory continues to be leased and sold. For the first time in over a year, the Industrial Market had a negative absorption rate, which raised the overall vacancy slightly to 7.02% from 6.28% last quarter. In contrast, the Office Market had an overall positive absorption of over 243,000 square feet, dropping the vacancy rate, for the second consecutive quarter, from 13.7% to 12.8%.

With inventory dwindling, several developers are seizing the opportunity for more speculative projects. There is currently over two million square feet of industrial space under construction. It will be interesting to see how all of the current activity will play out through the rest of 2015 and into 2016. To read the full market reports, click the links below.

 

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Middle West Spirits – Expansion

Congratulations to Ryan Lang and Brady Konya with Middle West Spirits, producers of the OYO brand of distilled spirits, on their expansion into a 23,650-square-foot building on the near-east side. Lang and Konya worked closely with Rj BOLL Realty and Mike Grenert, SIOR, to negotiate final terms and secure the facility at 470 E. Starr Avenue.

The warehouse located at 470 E. Starr Avenue will be used mostly for storage and will allow Middle West Spirits to expand their current production facility at 230 Courtland Avenue. The $3.5 million expansion project includes the warehouse and distribution space in the Milo-Grogan neighborhood along with a small restaurant shoehorned into the production plant, located in Italian Village. After the renovations are complete, Middle West Spirits will be capable of producing more than 10,000 gallons of spirits per day, almost 80 times their current capacity of 130 gallons of spirits per day. They will have separate stills for whiskey and vodka, with a third set aside for rum, brandy, and gin.

Middle West’s project is self-financed, and the company is receiving some tax credit help from the city. The company will add 25 new positions, most of those coming on board within the next year.

http://www.dispatch.com/content/stories/business/2015/10/07/middle-west-spirits-installs-new-still.html

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Rj BOLL Realty Sells 2170-2200 Dividend Dr. & Acquires Property Management

Rj Boll Realty’s Ray Boll and Jeff Boll, in conjunction with Wayne Asmus, recently closed the sale of the property located at 2170-2200 Dividend Drive in Columbus, Ohio. The property consists of 43,975 square feet of office/showroom space, and sold for $1,055,000.00. Since the sale, the building is undergoing a transformation with a complete exterior refurbishing. The property is being rebranded as Westbelt Tech Center, offering high-tech office/showroom space with glass store fronts for lease. The interiors will feature loft-style finishes with exposed ceilings, ideal for high-tech users, healthcare, pharmaceutical practices, and engineering firms.

Rj BOLL Management also procured the property management contract for this property. The management team is committed to ensuring superior service, cost-effective maintenance, and high tenant-retention.

Located just one mile from Roberts Road & I-270, and less than five minutes from I-70, Westbelt Tech Center is the perfect location, providing excellent access to major freeways. Various units with freeway frontage and signage are available from ± 3,220 square feet up to 12,450 square feet.

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Columbus Office Market Report – Q2 2015

The Columbus Office Market has started to pick up steam in the second quarter of 2015 with an overall positive net absorption of over 485,000 square feet. The “Class A” office product posted the majority of that with over 382,000 square feet of positive absorption, due in large part to the delivery of the Columbia Gas building, which was fully occupied at the time. Vacancy rates for Q2 decreased from 14.6% to just over 13% in the second quarter of 2015.

A notable sale during Q2 was the office building at 350 Worthington Rd. The property consists of 48,000 square feet and recorded a sale of $4,175,000.00.
Read the Full Report

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