Columbus Partnership assumes active role in Downtown development
Columbus CEO
Among all of central Ohio s commercial real estate transactions in March, the one for 145 S. Front St. might have raised the most eyebrows.
The 200,000-square-foot state office building, empty since 2007, was sold for $3 million.
Instead of a developer, the buyer was the Columbus Partnership, the private, nonprofit collection of the area s most powerful corporations, which announced plans to turn the seven-story building into a mix of offices, retail space and residences.
The Partnership has been active in economic development since its founding in 2002, but until now, has stayed away from bricks-and-mortar.
After plunging in 2020, central Ohio retail is climbing out of its pandemic hole.
Foot traffic is rising, leasing is up, and new stores are opening throughout the Columbus area, but plenty of clouds remain, especially for enclosed malls and older strip centers in central Ohio, which has more than twice the retail space of the U.S. average.
“A year ago, I definitely thought I was heading into what I thought would be the worst part of my career,” says David Lukes, CEO of SITE Centers, the Beachwood-based firm that owns or co-owns several premium Columbus shopping centers including Lennox Town Center, Polaris Towne Center, Sun Center and Easton Market. “Leasing activity now is the highest I’ve ever seen it. This is the most shocking turnaround I’ve ever seen.”
Downtown Columbus apartment developer Jeff Edwards sees a vibrant urban center in the future columbusceo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from columbusceo.com Daily Mail and Mail on Sunday newspapers.