Columbus – Byers Chevrolet Retail Property Sold to NRI
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The announcement came yesterday that Nationwide Realty bought the eight acre Byers Chevrolet property on W Broad Street, just west of Downtown Columbus on the Scioto Peninsula .
Byers plans to be open in Grove City by November 15th according to Byers VP, George Kauffman. Byers Automotive employs around 120 employees.
Redevelopment plans have not been announced yet, but NRI is exploring development options for the eight acre site. NRI’s Ellis says: “I think it’s a fairly safe bet that it will be a mixed use,” Ellis said. “Certainly residential will be a part of it, and we expect retail to be a part of it, and office is a possibility. It will be dictated by the market.” Nationwide also could purchase additional parcels in the area, Ellis said.
Ellis goes further with “It’s important for us to create amenities that people within the neighborhood can utilize and walk to, and I think a big part of that is going to occur on Broad Street. We want it to be beneficial to the neighborhood but for things like restaurants to succeed, they also need to capture that traffic on Broad and bring them in.”
NRI’s plans are likely to include cost effective or below market residential and some new Columbus net leased retail, which would be quite a change for Franklinton.
Ellis views East Franklinton as a long-neglected area that will within the next 10-15 years become an extension of the revitalized and booming downtown Columbus.
“All the great things happening Downtown will support the growth of Franklinton, and the growth in Franklinton will support all the positive things happening Downtown,” he said.
Franklinton needs far more street retail, both local boutique and national credit net leased retail to kick start this area, and I think this will get it started.
