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Staff Reports



COSTCO opens in Northwest Columbus

PLAIN CITY – Costco opened a membership warehouse in Northwest Columbus. The 154,000-square-foot warehouse is located at 7300 State Route 161, in the Dublin Green Shopping Center, at the northwest corner of State Route 161/Post Road and Industrial Parkway off Highway 33 and Highway 161.

Previously, residents of the area had to drive approximately 15 miles northeast to Columbus or 20 miles southeast to Easton to shop at Costco.

“We are thrilled to be bringing Costco’s low warehouse prices to the residents of Columbus,” said Warehouse Manager Daniel Bennett. “They have been asking us to open here for a long time, and we already have made an impact on the local job market. We look forward to contributing to the community in many ways.”

This 12th Costco warehouse in Ohio will be the 497th in the U.S., and 709th worldwide. Costco has 85 million cardholders throughout the U.S., Canada, Mexico, England, Scotland, Wales, Spain, South Korea, Taiwan, Japan and Australia.

Credit Union Saves Members $700K

Columbus – As of Feb. 7, CME Federal Credit Union has saved its members over $691,979 in interest with their Mission to a Million campaign. Started in May 2016, CME’s goal was to save members $1 million in interest by May 2017 by refinancing current loans from other financial institutions.

However, after such great progress, CME decided in Dec. 2016 to continue the campaign through the 2017 calendar year with a new goal of saving members $1.75 million. President and CEO Jeff Carpenter says, “Mission to a Million is a great way to give back to our members and ensure we are doing everything in our power to enhance their financial lives.”

In addition to saving members money on interest, when anyone comes in to a CME branch to have their current rate evaluated, they are automatically entered to win a $2,500 Southwest Airlines gift card. If CME is unable to get someone a lower rate, they will receive $50 just for taking their loan into a branch.

Anyone is eligible to participate, CME member or not. As CME’s mission states, the credit union is serving and enhancing members’ financial lives by ensuring they have the lowest interest rate possible for any loan product.

About CME Federal Credit Union CME Federal Credit Union is a non-profit, member-owned credit union located in central Ohio.

Products range from checking accounts, savings accounts, home, auto and motorcycle loans, as well as credit cards, online banking and more. The credit union serves over 31,848 members through six centrally-located branches in central Ohio (Columbus 365 S. 4th St. and 555 E. Rich St.; Westerville 428 S. State St.; Hilliard 4099 Trueman Blvd.; Pickerington 1017 Refugee Rd.; and Clintonville 4545 N. High St.) and has assets totaling $267 million. Anyone who lives, works, worships, volunteers, or attends school in Delaware, Fairfield, Franklin, Licking, Madison, Morrow, Pickaway and Union counties is eligible for CME membership.

For more up-to-date information visit www.cmefcu.org.

Best Travel Agency in Central Ohio

POWELL –Voted ‘Best Travel Agency in Central Ohio,’ Expedia® CruiseShipCenters® – part of Expedia Inc., the largest travel company in the world – was a recent Reader’s Choice award winner. The Powell, Ohio location was recognized by votes from the members of the Central Ohio community as it continues to work with residents to plan cruise vacations.

“Receiving this award through the votes and recommendations of our community members means so much to us. As travel agents and experts, our agency is always building meaningful relationships with our customers, and it’s amazing to feel the love from them, as they let us know they consider us a part of their family,” said Doug Senter, Franchisee of Expedia CruiseShipCenters in Powell. “Our Vacation Consultants strive to make planning a dream vacation easy and stress-free. We look forward to continuing building up our relationships with members of the community and local travelers for many years to come.”

Expedia CruiseShipCenters offers cruise vacations and much more through its 220 locations across North America. Customers are able to choose from numerous vacation possibilities over land, sea and air, including customized trips, coach & rail tours and insurance – all at Expedia prices. In addition to the research and booking features available on their local website, Doug Senter and his team offer personal vacation consultations in person, through email or over the phone, so customers always have the freedom to book when, where and how they choose.

For more information about Doug Senter and Expedia CruiseShipCenters in Powell, visit www.cruiseshipcenters.com/Powell, call 614-808-0108, or visit their location at 4024 W. Powell Rd, Powell, OH 43065.

Enterprise Ireland employs 80,000 in U.S.

NEW YORK, March 15 — Enterprise Ireland, the Irish government organization responsible for the development of Irish enterprises in world markets and also recognized as Europe’s third largest seed capital investor, put United States employment by Enterprise Ireland supported companies at over 80,000 jobs. Seven hundred companies operating across 50 states and Washington DC provide employment in a diverse array of high-value sectors, including consumer products, construction products and services, clinical research, software, food manufacturing, industrial and engineering products. Fourteen percent of the Irish backed employment is in California; 4 percent is in Illinois and 5 percent is in New York State. In 2016 alone, these Irish companies established 55 new U.S. operations.

“The state of Ireland’s partnership with the United States is strong,” Julie Sinnamon, CEO, Enterprise Ireland said. “Our shared values, expertise and experience is business-positive for both countries — as evidenced by the 80,000 jobs created by Enterprise Ireland supported companies in the United States. Just as innovation and entrepreneurship is forged into the Irish psyche, it is central to America’s pioneering spirit, and I am confident that the steady momentum of Ireland’s growth will be reflected in continued employment growth here in the United States.”

Irish firms at the vanguard of employment growth in the United States include:

Sysnet Ltd.: A leading provider of cyber security and compliance solutions to the payments industry, Sysnet recently announced a $2 million investment and the creation of 500 new jobs for a new contact center in DeKalb County, Atlanta.

Oldcastle: The North American arm of CRH plc., one of the world’s leading building products and materials companies based in Dublin, Ireland. Oldcastle has more than 1,700 operations in 50 states and 6 Canadian provinces.

Kerry Group: One of the largest players in the global food industry with current annual sales of approximately $6.5 billion and multiple manufacturing operations across the United States. Kerry Group has a long history in the U.S. and continues to invest in developing its manufacturing and research operations there.

Smurfit Kappa: A world leader in paper-based packaging with approximately $8.5 billion in global sales, Smurfit Kappa employs over 43,000 people globally and owns multiple recycling and manufacturing operations across the southwest of the United States.

Glanbia: One of the world’s top performing nutrition companies, Glanbia employs 2,000 people across 29 countries. The United States has the most Glanbia facilities of any country, with 12 manufacturing operations and corporate offices across seven states.

Details on how Irish businesses are expanding internationally are drawn from the Irish Central Statistics Office (CSO) outward foreign affiliates survey: http://www.cso.ie/en/methods/multisectoral/outwardforeignaffiliatessurvey/

Enterprise Ireland is Europe’s third largest venture capitalist by deal-count and In discussing Ireland’s strong entrepreneurial base, Sinnamon also noted that female entrepreneurship is atypically high.

“Female entrepreneurship in Ireland is at 20%,” Sinnamon noted. “This diversity is a considerable strength that occurs naturally in Ireland’s highly educated, experienced workforce but which we’ve also worked hard to culture and support. I am confident that many of Ireland’s successes in International markets will come from these women and their organizations.”

About Enterprise Ireland

Enterprise Ireland is the Irish State agency that works with Irish enterprises to help them start, grow, innovate and win export sales in global markets. Enterprise Ireland partners with entrepreneurs, Irish businesses, and the research and investment communities to develop Ireland’s international trade, innovation, leadership and competitiveness. In this way, we support sustainable economic growth and regional development, and help create and sustain employment in Ireland. www.enterprise-ireland.com

The Best and Brightest in Commercial Real Estate Honored

Columbus REALTORS® held its ninth annual Commercial Awards Banquet on Thursday, March 9, 2017, at The Grand Event Center at Grandview Yard, where the best and brightest commercial practitioners for 2016 were honored.

Largest Transaction Industrial (sale) – Rick Trott, CCIM, SIOR, Kevin McGrath, Michael Mullady, Jeff Lyons, Matthew Lehman and Joe Kimener, CBRE, received this award for the sale of a warehouse/distribution center located at 6050 Gateway Court in the Village of Obetz, Ohio. This deal, between DRCS (seller) and Menard, Inc. (buyer) for more than 1 million square foot of warehouse/distribution space, closed on Oct. 7, 2016.

Largest Transaction Industrial (lease) – Michael Mullady, Jeff Lyons and Matt Lehman, CBRE, picked up this award for closing the deal on a 10-year lease for 465,256 square feet of distribution warehouse space (formerly occupied by Big Lots) at 5303 Fisher Road on Columbus’ west side.

Largest Transaction Office (sale) – Andrew Jameson, CCIM, SIOR, Brett Cisler and Daniel Dunsmoor, Colliers International | Greater Columbus Region, took home this prize for the nearly 16 million-dollar sale of the Sun Life Portfolio, which included three office buildings, two in Gahanna and the third in Dublin.

The Gahanna Office Centers 1 and 11, located at 630 and 670 Morrison Road in Gahanna, respectively, were built in 1996 and 1997. Both house more than 63,000 square feet of high quality office space close to the Columbus Airport, with easy access and excellent visibility to I-270 at Hamilton Road.

The four-story, 103,000 square foot office building at 5080 Tuttle Crossing Blvd., in Dublin sits across the street from the 1.2 million square foot Tuttle Crossing Mall. It has good access to I-270 and is surrounded by outstanding area amenities – restaurants, lodging, and other support service.

Largest Transaction Office (lease) – Doug Jackson, Bill Whipple, Todd Greiner, Phil Pelok, Greg Thomas and Terry Mathews, CBRE, received this award for negotiating a 12-year lease deal between Kendall-Dublin LLC (landlord) and Cardinal Health (tenant) for 401,682 square foot of office space at 5100 Rings Road in Dublin.

This seven-story class A office building, with its open floor plans and upscale office campus atmosphere, is situated on the inside of I-270 with access from both Rings Road and Blazer Pkwy., and it’s close to Tuttle Crossing amenities.

Largest Transaction Retail (sale) – Jesse Shkolnik, Austin Wathen, Patrick Wathen and Matt Lasky, Equity, were presented with this award for brokering the sale of a 16,000-square foot multi-tenant retail center in the Shoppes of Bellefontaine at 2226-2244 South Main Street in Bellefontaine, Ohio.

The Shoppes at Bellefontaine is known for an impressive array of national and regional retailers, ample parking and is perfectly located in the established retail/commercial corridor.

An increasingly densely populated, high traffic region in western Ohio, the City of Bellefontaine is comprised of a mix of commercial, retail and residential uses, and has become one of Logan County’s most desirable residential and commercial areas due to its educated workforce, low tax base, and affordable housing options, which has led to the success of retailers currently housed at the Shoppes at Bellefontaine.

Largest Transaction Retail (lease) – Nicholas D. Klacik, CBRE, won this award for brokering a long- term lease deal for 33,530 square feet of retail space at 5727 Emporium Square (at the corner of Cleveland Avenue and St. Rt. 161) in the Columbus Square Shopping Center.

Aspire Fitness, a chain of fitness clubs based in Denver, Colorado, is the tenant in this deal and will house its first central Ohio location at the Columbus Square Shopping Center. The fitness center is slated to open in 2017. Aspire chose to locate in the Northland area because of the anticipated economic growth.

Since 1947, Columbus Square Shopping Center has been managed by The Hadler Companies, who has owned and managed 21 retail shopping centers throughout central, western, and southeast Ohio, totaling approximately 1,800,000 square feet of space.

Most Co-op Transactions – Andrew Jameson, Colliers International | Greater Columbus Region, was presented with this award for closing 67 co-op deals with more than 28 different companies last year.

Most Unique Transaction Award — Eric Leibowitz, Jason Freeman and Brent Myers, CASTO, picked up this award, which comes with more of an explanation because it was – well – unique!

“The Wellington” — a six-story development project located in the heart of The Ohio State University campus at 16th and High – will become home to the first flexible-format Target stores in Ohio.

The parties involved in this deal began talking with Target about this project in the Summer of 2015. At the time, Target had just started to roll out its flexible-format stores nationally in urban locations, and at just a few campuses across the country. The negotiation lasted nearly a year before the location was announced in September 2016.

“The Wellington,” an Edwards Communities development project, will contain student housing for up to 450 students; 46,000 square feet of street level prime retail and restaurant space; and underground parking. These multiple layers involved complexities that required creative solutions from both sides to meet certain obligations that balanced tenant and landlord requirements.

The new 28,000 square foot Target store is slated to open in the summer 2018. and will be much smaller than the average Target stores, which range from 135,000 square feet to 175,000 square feet for Super Target locations.”

The store’s customized assortment will include: a selection of fresh groceries, as well as sandwiches, salads, beverages and snacks; an assortment of dorm and apartment essentials; health, personal care and beauty products; portable technology products and accessories; men’s and women’s apparel and accessories; select game-day apparel and accessories; and the ability to buy online and pick up purchases at the store.

“1031 Exchange” Transaction — Jesse Shkolnik, Equity, picked up this award for a fairly-straight forward “1031 Exchange,” but one that involved two slightly more complicated individual transactions.

The initial transaction involved the sale of retail land located at 5524 North Hamilton Road in Gahanna, where Shkolnik represented both the buyer and seller. His client, Lazer Kraze Family Fun Center, was looking for an existing retail or flex building to expand into their third location, which was difficult to find because of their rent requirements, desire for a quality location and required size —20,000 plus square feet.

Shkolnik’s second client, Gosula Estates, owned a shopping center on North Hamilton Road with adjacent land that they were eventually planning to develop. While their preference was to only ground lease the land, the owner agreed to sell to a single tenant user. After a drawn-out development process and various lender issues, they were finally able to close the sale of the land on Dec. 2, 2015.

With the seller owning the shopping center adjacent to the land sale and both parcels being on the same loan, the seller used the full sale price from the “1031 Exchange” to purchase two retail centers, one in Heath, Ohio that involved no agents, and the other, Galloway Crossing Center, in Southwest Columbus.

ln the Galloway Crossing transaction, Shkolnik represented the 1031 buyer and the seller was represented by Carlton Dargusch of The Gilbert Group. Despite working through several issues, including a theft with the robber driving a car through the rear of the center, the sale was closed on April 21, 2016.

The Top 10 Producer awards went to Daniel Dunsmoor, Colliers International; Todd Greiner, CBRE; Andrew Jameson, Colliers International; Michael Linder, SIOR, Colliers International; Michael Mullady, CBRE; Philip Pelok, CBRE, George Skaff, ARA Newmark; Brent Stamm, Continental Realty; Shane Woloshan, SIOR, Colliers International; and Joel Yakovac, SIOR, Colliers International.

Commercial Rookie of the Year Award — Jonathan Schuen, Colliers International, was presented with this award for his professionalism, passion for the industry, and commitment to going the extra mile for his clients.

Schuen joined Colliers International as a Research Analyst immediately after graduating from Southern Adventist University with a degree in business administration and finance four years, ago. He is Argus Certified (commercial software certification program), and has achieved the Colliers International Commercial Property Research Certification – the only researcher to achieve these two certifications.

After only 18 months as a Research Analysis, Schuen advanced to Collier’s “Broker in Training” program, where his focus is on industrial real estate. In 2016, he was personally responsible for and the lead advisor on over 37 transactions and jointly involved in more than 114 team transactions. As such, Jonathan was awarded Colliers International’s “Brokerage Rising Star” award.

Schuen is involved in numerous industry activities, including serving as a member of the Xceligent Industrial Advisory Committee, the National Association of Industrial and Office Parks (NAIOP), and as a member of Colliers Next Gen Practice Group. He’s also currently pursuing a SIOR designation.

In the community, Schuen has been involved in the Pelotonia event for the past four years, and is an active member of his church, where he leads the young adult group and serves as a member of the Finance Committee. He and his wife also volunteers with Heartland Hospice, visiting Alzheimer and dementia residents at local hospices.

Schuen has become an invaluable member of his Collier team, and his highest praise comes from his peers, who agree, that he always demonstrate the utmost professionalism and is a pleasure to work with.

Erika Blumenstein Memorial Award — Michael A. Tabor, Commercial REALTOR®, was awarded the 2016 Erika Blumenstein Award for his professionalism and outstanding commitment to the commercial real estate industry and to the central Ohio community.

Tabor has been an active Realtor® since 1983, specializing exclusively in office, industrial and commercial properties. He began his real estate career with the commercial/industrial firm of Wears Kahn McMenamy in Columbus, Ohio. In 2001, Wears Kahn McMenamy became part of the Coldwell Banker Commercial Network, as United Realty Services, with Tabor serving as Vice President of Brokerage Services for the firm until 2008.

In September of 2008, he joined Myers Real Estate as Director of Commercial Brokerage, and as an Office and Industrial Specialist, engaging exclusively in the sale and leasing of office and office/warehouse properties. Over his career, Tabor has participated in numerous commercial real estate transactions totaling well over $350 million dollars. In 2013, he became an affiliate of Sunbelt Capital Advisors for their expansion to Ohio.

Prior to his entry into the real estate business, Tabor was in the construction field for 11 years specializing in commercial and residential HVAC applications. Through this experience, involving management, installation and service, he has obtained an expert level of understanding of general building construction and renovation.

Tabor’s professional activities include membership in the Columbus and Worthington Chambers of commerce; the Commercial Real Estate Development Association (NAIOP); I-270 North Office Brokers (ARC); and Downtown Office Specialists Group (DOGS). Within these organizations, he has served on numerous committees and/or as committee chair.

For Columbus REALTORS®, Tabor has chaired the Commercial Standard Forms Committee, Government Affairs Forum and twice chaired the COCIE Governing Board. He’s also been a member of the Amnesty Sales Award, Multiple Listing Service and Residential Standard Forms committees, and he served on the Internet Task Force.

Tabor is a past president of the Columbus Commercial, Industrial and Investment Realtors® (CCIIR), and has also been involved with various neighborhood associations within his community.

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Staff Reports