A Partnership for Growth

October 6, 2014

The alignment of a region’s commercial real estate community and economic development plan is critical. In order for an economic base to expand, development-ready sites and marketable buildings are a necessity. Communities can be overlooked for projects that they are well suited to win simply because the available site or building inventory is too low. Available properties must be marketed aggressively by both the developer and the community to achieve absorption, development and economic growth.

The development of real estate is a game of risk, and good information is key to making sound decisions. Communities must work in partnership with private developers to encourage the development of business parks, commercial office buildings and industrial buildings. This requires an open and constant dialogue, transparency about competitive forces and a willingness to work together on economic development strategy.

The Columbus Region is fortunate to have a very active and involved real estate community. Organizations like Columbus REALTORS, the National Association of Industrial and Office Properties and the Urban Land Institute have terrific leadership and are active both locally and statewide. Their events bring the community together to have candid dialogue about the area’s future, and to bring national and international best practices to the local market.

Kenny McDonald

One Columbus Update