Columbus retailer files for bankruptcy. What’s next?

Columbus retailer EXPRESS this week announced it was filing for Chapter 11 bankruptcy protection , closing more than 100 stores and hoping to secure a deal with a new owner. ?

The company said a consortium led by WHP Global and including a subsidiary of Simon Property Group LP and Brookfield Properties have sent a non-binding letter of intent to acquire a “substantial majority” of Express’ retail stores and operations.

Should that deal not materialize, however, hundreds of corporate jobs could be cut . We’ve got more coverage of the fallout from the announcement on our website, including the list of Ohio stores set to close.

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Real estate deals of the week

• Rickenbacker warehouse sells: A Hanesbrands Inc. warehouse near Rickenbacker International Airport has sold to a New York City investment firm for $94 million. The 1.2 million-square-foot building, located on an 88-acre parcel at 521 Exchange Way in Commercial Point, was acquired by W.P. Carey Inc., a real estate investment trust that invests in single-tenant properties.
• Unique Arena District property hits the market: Two parcels at 527-533 Armstrong St. are now for sale. The site is small, and currently home to an uninhabitable house, but the broker handling the listing says its status as "one of the last spots remaining to be redeveloped in the Arena District" should make it appealing.?It's listed for sale at $1.1 million

• Central Ohio housing developments awarded $28.2M in state funds : The Ohio Housing Finance Authority recently approved $28.2 million for three residential projects in east Columbus, south Columbus and Lancaster. ?The funds will be distributed to National Church Residences , LDG Multifamily and Woda Cooper Companies, Inc. Check out our full story for more details on the projects involved.

See more of Columbus Business First’s comprehensive real estate coverage here.

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Central Ohio’s manufacturing boom is just getting started

Ohio has racked up significant manufacturing wins in recent years, including not only 英特尔 's?$28 billion New Albany plan ?and American Honda Motor Company, Inc. 's more than $5 billion commitment to?electric vehicle production ?in the state, but also investments from American Nitrile and 安进 .

Representatives of that quartet of companies spoke Thursday at our?annual Columbus Opportunity Summit , covering an array of topics from Ohio’s manufacturing strengths to the growing role of A.I. to where the businesses expect to be in five years.

Check out our coverage here and keep an eye out for our May 10 edition for more from the panel.

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Golf anyone?

Golf and business have long been intertwined. In this week’s cover story, reporter Zachary Jarrell aims to separate fact from fiction related to business being done on the course.

Joe Trauger, CEO of the National Club Association, which represents private golf and country clubs nationwide, said the idea of dealmaking on the golf course is “overblown,” but acknowledged there are advantages to meeting clients at the first tee.

“When it comes to the interaction of golf and business, what it really gets down to is the ability to build relationships,” Trauger said.

After all, you’ve got a captive audience for three or four hours.

For more on how and when Central Ohio executives make use of the golf course, check out Zach’s full story.

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This Weekly Edition was compiled by Eleanor Kennedy. Questions? Comments? Concerns? Email [email protected] .

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