Cassidy Turley - Columbus News

Ashland receives EPA Energy Star Award for two buildings

2010-12-16T07:26:00.000-08:00

Two buildings on the Ashland Inc. Dublin campus, 5200 Blazer Parkway, have been given the U.S. Environmental Protection Agency's ENERGY STAR Award. Both buildings house administrative offices for Ashland.

Click here for full Columbus Local News Story

Local tech firm provides massive computing power

2010-11-22T07:35:00.000-08:00

Bluemile Inc. is a Columbus-based tech company that aims to become as ho-hum reliable as a utility. But first, it has to explain to clients what it does. And that isn't easy to do, co-founders Michael Marlowe and Jamie Busic acknowledge.

Click here for full Columbus Dispatch story.

570 jobs coming to New Albany if aid is approved

2010-11-17T07:55:00.000-08:00

Three companies plan to bring a combined 570 jobs to New Albany, according to plans presented to the village council yesterday. The companies would move to the village's business park, contingent on receiving state aid.

Click here for full Columbus Dispatch story.

Columbus schools plan to buy Maennerchor's buildings

2010-11-02T11:06:00.000-07:00

The fire-damaged Stewart Alternative Elementary School will grow as it is being restored if the Columbus school district buys the adjacent Columbus Maennerchor property. The district has agreed to pay $1.3 million for the Maennerchor buildings, minus two small parcels. That's a price break from the original list price of $2.4 million but slightly more than a recent appraisal at $1.05 million.

Click here for full Columbus Dispatch story.

City OKs deal for rest of Northland Mall site

2010-11-02T11:03:00.000-07:00

Now that he controls the last two pieces of the former Northland Mall site, developer Mo Dioun faces the tough task of luring retailers and other businesses to complement the other projects rising nearby.

Click here for full Columbus Dispatch story.

Taking a closer look at an old way of selling property: the commercial auction

2010-11-01T06:34:00.000-07:00

In today’s commercial real estate market, the three “T”s join the proverbial three “L”s as important elements in the sale of assets. While the old axiom of location, location and location still holds water, timing, timing and timing have become increasingly important, especially for assets that are treading water or have sunk into financial difficulties.

Read the full Midwest Real Estate News story here.

Bank Credit Freeze Shows Signs of Thawing

2010-10-28T06:25:00.000-07:00

Maybe it is time we start taking bankers at their word that commercial real estate wasn't and isn't a catastrophe waiting to happen. Maybe, just maybe, as they've been telling us for the last four consecutive quarters, there are serious risks but they are manageable and are being dealt with and disposed of.

Read the full Costar story here.

New Albany neighbors upset over proposed building

2010-10-21T07:40:00.000-07:00

Residents of two golf-course subdivisions in New Albany are worried that a new Nationwide data center will be an eyesore and lower their property values. Neighbors from New Albany Links and Upper Clarenton packed a village planning commission meeting on Monday and then brought up their concerns again at a Village Council meeting on Tuesday.

Read the full Columbus Dispatch story here.

Final phase of Emerald Parkway planned

2010-10-20T08:09:00.000-07:00

The city of Dublin has nearly completed the design of the last segment of Emerald Parkway. The final phase will extend the parkway from Riverside Drive and to just north of Bright Road, at a new bridge over Billingsley Creek, said Sue Burness, representing the city.

Read the full Suburban New Publication story here.

Mag aims to make a 'scene' in Grandview

2010-10-18T08:07:00.000-07:00

The publisher of Columbus City Scene could find itself moving to Grandview Heights next year. The suburb just northwest of downtown Columbus has offered a five-year, 30-percent rebate of local income taxes generated by Publication Group Ltd.’s $500,000 or so annual payroll as an incentive to move to 781 Northwest Blvd.

Read the full Business First post here.

Office-space vacancies worsening

2010-10-18T08:05:00.000-07:00

Vacancies have remained a problem in the Columbus office market, as it recorded its seventh straight quarter of increases. For the July-to-September period, the vacancy rate in Columbus rose to 18.1percent, up from 16.3 percent in the third quarter of 2009, according to data released yesterday by Columbus-based Cassidy Turley, a commercial real-estate firm.

Read the full Columbus Dispatch story here.

Council signs off on tax incentives for land near Yard

2010-10-13T08:03:00.000-07:00

Columbus City Council has given the go-ahead for the formation of a tax increment financing district near Grandview Yard. Council approved an ordinance creating the district at its Oct. 4 meeting.

Read the full Columbus Dispatch story here.

Follow the Money: Another $6.9 Billion Pours into Real Estate Investors' Coffers

2010-10-07T07:51:00.000-07:00

Companies and funds reported raising $6.88 billion in September for real estate-related investments and financing. The funding imbalance continues however, as the buying power of the portion of funds targeted for properties is far more than the total value of monthly acquisitions lately.

Read the full Costar story here.

Residential street, park are part of Grandview Yard's second phase

2010-10-06T07:50:00.000-07:00

The Grandview Heights Planning Commission last week gave preliminary approval with conditions for Phase II of the Grandview Yard development. The plan, approved last Wednesday, Sept. 29, calls for the dedication of a new residential street and a small park to provide open space at the north end of the first phase of development. The combined area affected by this phase will be less than one acre.

Read the full Suburban News Publication article here.

Best Practices in Distress Investing: No Single Strategy Fits All

2010-09-20T06:45:00.000-07:00

When it comes to commercial real estate investment, distress is all the buzz. It's the catchword that seems to always precede the word 'asset' and is currently the archetypical investment craze. There has been a downpour of money targeting distressed property, and according to CoStar Group data, almost one in every four commercial property sales done so far this year fits in some sort of distress category, whether it's an REO or foreclosure sale, delinquent or underwater loan, or a property with negative cash flow.

Read the full story on CoStar here.

State Court Renews 11,000-SF Office Lease

2010-09-20T06:43:00.000-07:00

John Boll of Cassidy Turley in Columbus represented the landlord, Arshot Investment Corp. in a 10-year renewal for about 11,147 square feet in the office building at 250 Civic Center Drive in Columbus, OH.

Read the full story on Costar here.

Group to gather buildings' stories

2010-09-09T07:43:00.000-07:00

Near the Northeast Side intersection of Wendy's and Subway and Courtyard by Marriott, another piece of Columbus history faces an uncertain fate. A farmstead built in the mid-1800s sits on land owned by the Columbus Regional Airport Authority, near Cassady Avenue and I-670. It will be needed someday for something at Port Columbus, but officials haven't decided what or when.

Read the full Columbus Dispatch story here.

CRE lending turns a corner, but still has a few more to turn

2010-08-19T13:29:00.000-07:00

There was little to cheer about in the second quarter numbers from bank holding companies when it comes to commercial real estate lending. While banks generally reported overall improved asset quality, they noted that declines in the value of commercial real estate assets continued to eat away at those improvements.

Read the full Costar story here.

CoStar's July 2010 commercial repeat-sale Indices Indicates a pause and softening in iInstitutional grade investing

2010-08-04T11:02:00.000-07:00

Commercial real estate pricing has been a tale of two worlds, with the largest metropolitan markets attracting significant institutional capital and forcing prices upward over the first two quarters of 2010, while the broader market has continued to soften, according to the first monthly CoStar Commercial Repeat-Sale Indices (CCRSI), produced by CoStar Group, Inc.

Read the full story here.

Office vacancy rates rise in central Ohio, Downtown

2010-08-02T10:45:00.000-07:00

Vacancy rates in the central Ohio office market rose in the second quarter for the sixth straight quarter, according to data from Cassidy Turley, a commercial real-estate service provider.

Read the full Dispatch story here.

Columbus Office Market Vacancy Continues Slow Steady Climb

2010-07-30T10:46:00.000-07:00

As commercial real estate and the national economy continues to fluctuate, overall vacancy for the Office market increased for the sixth straight quarter. Direct vacancy in total increased 24 basis points to end at 17%. Class A (14.27%) space continues to outperform Class B (19.85%); however, an interesting dynamic took place this past quarter. Class A vacancy decreased while Class B increased as tenants took advantage of concessions offered. This “flight to value” phenomenon points to companies moving out of expensive Class A space into more cost effective office space in Class B properties. This could become a recurring trend as lease terms expire and companies look to cut occupancy costs.

Read the full Cassidy Turley relase here.

Fresh future for old Columbus school buildings

2010-07-08T10:36:00.000-07:00

These schools were laid off. An unlucky 13 old-timers in the Columbus school district have been told to pack their things. Four are elderly and will be demolished and replaced. Nine were let go last month because of low enrollment.

Read the full Dispatch story here.

Executives hired to promote area economy

2010-07-07T10:33:00.000-07:00

The Columbus Partnership said yesterday that it has hired two executives to fill new posts as it tries to reshape economic development in central Ohio. Veteran economic-development leader Kenny McDonald was named senior vice president and chief economic officer of the partnership, a group of 38 central Ohio CEOs.

Read the full Dispatch story here.

Cassidy Turley arranges sale of Two Constitution Square, Washington, DC

2010-07-06T11:23:00.000-07:00

Cassidy Turley today announced that it arranged the sale of Two Constitution Square, a 589,088 square foot, state-of-the-art office building located in Washington, DC. Bill Collins, Paul Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley represented the sellers, StonebridgeCarras and Walton Street Capital. Northwestern Mutual acquired the property for $305,000,000.

Read the full release here.

$2.3 billion in troubled CMBS loans coming due over next 6 months

2010-07-01T11:51:00.000-07:00

There are 960 fixed rate loans representing $9.6 billion scheduled to mature by the end of the year, according to a Fitch Ratings' review of CMBS fixed rate commercial loans. Of these 960 loans, 103 loans representing $2.3 billion (23.3%) are in special servicing. Of those in special servicing, 27 loans (representing 48% by balance) are current.

Read the full story from Costar.