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Ohio: A Premier Destination for Commercial Real Estate

Introduction

Ohio, strategically located in the heart of the Midwest, stands as a dynamic hub for commercial real estate (CRE). As the seventh most populous U.S. state, Ohio boasts a diverse economy encompassing major industry clusters like manufacturing, logistics, and healthcare. Its unique positioning as a logistics powerhouse and a center for innovation makes it a prime location for CRE investment and development.

Economic and Industry Overview

Ohio's economy is driven by a blend of traditional and emerging industries. The state is renowned for its robust manufacturing sector, bolstered by automotive giants and advanced manufacturing facilities. Additionally, Ohio is a leader in healthcare and bioscience innovation, with numerous biotech firms and research institutions. These industries fuel demand for various commercial property types, including industrial spaces, office buildings, and specialized research facilities.

The Ohio Development Services Agency plays a crucial role in fostering economic growth through targeted initiatives that support business expansion and workforce development.

Strategic Location and Transportation Infrastructure

Ohio's strategic location offers unparalleled logistical advantages. The state is crisscrossed by major highways, including I-70, I-71, and I-75, facilitating seamless transportation. Ohio is also home to key rail lines and intermodal facilities, enhancing its appeal as a distribution hub.

For air travel, Ohio is served by multiple airports, including the Cleveland Hopkins International Airport and John Glenn Columbus International Airport. The state's proximity to the Great Lakes enables access to maritime shipping routes, further boosting its logistical appeal.

Commercial Real Estate Inventory & Zoning

Ohio's CRE landscape is characterized by diverse submarkets, including vibrant central business districts (CBDs), expansive industrial corridors, and innovation districts. Key asset classes include industrial, retail, office, and medical properties. The state offers numerous incentives for developers, such as tax abatements and opportunity zones.

Explore Ohio's zoning maps and parcel viewers to gain insights into zoning changes and development opportunities across the state.

Major Employers and Institutions

Ohio is home to a plethora of major employers and institutions that drive CRE demand. Notable companies include Procter & Gamble, Nationwide Insurance, and the Cleveland Clinic. The state's higher education institutions, such as The Ohio State University, contribute significantly to research and innovation.

For a comprehensive list of top employers, visit the Ohio Economic Development site.

Notable Commercial Developments & Projects

Ohio is witnessing several large-scale development projects, including mixed-use developments and innovation parks. Public-private partnerships and designated opportunity zones further enhance the state's attractiveness for investors.

Visit the Ohio Planning Department for detailed site maps and information on approved projects.

Building Permits, Planning, and Development Tools

For developers and investors, Ohio offers a range of resources to streamline the planning and permitting process:

Market Data & Economic Reports

Access comprehensive market data and economic reports through public datasets such as census.gov and Ohio's open data portal. Brevitas utilizes AI-powered aggregation from public data and internal insights, offering users a robust platform to explore Ohio's CRE market.

Why Use Brevitas for Ohio CRE?

Brevitas offers a cutting-edge platform for Ohio commercial real estate professionals, featuring AI-driven CRE discovery, real-time market alerts, and smart property pages. Key features include: