Just Opened CBUS

7.1.2025

Author

AMIR GREENE
July 01, 2025

Just Opened CBUS

Your Weekly Guide to Central Ohio's Commercial Growth & Investment Landscape

July 2025 Edition

EXECUTIVE SUMMARY

Central Ohio's business development momentum continues to accelerate with over $1 billion in new investments announced this month. Leading the charge is Hikma Pharmaceuticals' massive expansion, signaling confidence in the region's manufacturing capabilities. Meanwhile, the residential sector shows robust activity with multiple apartment complexes and innovative mixed-use developments moving forward. The retail landscape is diversifying with new Mediterranean dining options and discount grocery concepts entering the market, reflecting evolving consumer preferences and economic conditions.

MAJOR INDUSTRIAL & MANUFACTURING DEVELOPMENTS

Hikma Pharmaceuticals Commits $1 Billion to Columbus Manufacturing Hub

Hikma Pharmaceuticals USA has announced the largest single industrial investment of the year with a $1 billion expansion of its Columbus generic drug manufacturing operations. The project centers on adding a 130,000-square-foot facility to complement the existing 1 million-square-foot plant, dramatically enhancing sterile injectable production capabilities.

This strategic investment, part of the company's "America Leans on Hikma" initiative, extends beyond Columbus to include R&D and manufacturing facilities in Cleveland and New Jersey. With construction beginning early 2025, the expansion reinforces Central Ohio's position as a critical pharmaceutical manufacturing center. Hikma currently produces over 12 billion doses annually and has invested more than $4 billion in US operations over the past 15 years.

The development creates substantial opportunities for specialty contractors, clean room technology providers, and pharmaceutical logistics companies throughout the region.

RESIDENTIAL & REAL ESTATE DEVELOPMENTS

Mixed-Use Innovation Takes Center Stage

National Church Residences is pioneering a new approach to corporate campus development with its ambitious 7.5-acre Upper Arlington redevelopment. The project will transform the organization's North Bank Drive headquarters into a mixed-use complex integrating corporate offices with residential units for older adults—a model that could influence similar developments across the region.

This "once-in-a-generation opportunity" benefits from Upper Arlington's strategic rezoning of the Henderson Road corridor, enabling higher-density mixed-use projects that better serve the community's evolving needs.

Urban Residential Expansion Continues

The apartment development pipeline remains robust across multiple submarkets. Mershad Development's Cedar Square project in German Village has refined its plans to include 81 units in a four-story building at 247-257 E. Livingston Ave, replacing a 1980s office building with modern residential capacity.

Meanwhile, Redwood Living is expanding its Central Ohio footprint with a unique 116-unit development in Obetz featuring single-story apartment homes designed to resemble single-family houses. Each unit includes private entrances and two-car attached garages, targeting professionals employed by nearby companies like Amazon and Cardinal Health.

In downtown Columbus, MCB Real Estate and Abide Capital Group acquired the 120-unit Harlow on Main complex for $16.5 million, demonstrating continued investor confidence in the urban core's residential market potential.

RETAIL & DINING EXPANSION

Mediterranean Cuisine Enters Central Ohio Market

Hummus Republic, the fast-casual Mediterranean chain, is establishing its first Central Ohio presence with locations at 1710 Columbus Pike in Delaware and 2108 N. High St. near Ohio State University. The customizable menu concept caters to diverse dietary preferences with build-your-own meals featuring Mediterranean staples and over 15 fresh herbs and vegetables.

Source: 614now

Established Brands Continue Growth

Potbelly Sandwich Shop opened its newest location in Westerville's Northridge Crossing shopping center on June 28, operated by Royal Restaurant Group. The expansion demonstrates continued confidence in Central Ohio's dining market, particularly in growing suburban corridors.

Milo's Deli is set to return to Franklinton this summer after temporarily closing earlier this year, adding to the neighborhood's culinary renaissance.

MARKET ANALYSIS & OPPORTUNITIES

The pharmaceutical sector's substantial expansion creates ripple effects throughout the regional economy, particularly benefiting specialized contractors and equipment suppliers. The senior living market shows continued strength, as evidenced by National Church Residences' innovative campus redevelopment approach.

Residential construction maintains strong momentum across diverse market segments, from urban infill projects to suburban garden-style developments, indicating healthy market segmentation across price points and demographics.

Emerging Business Opportunities

  • Pharmaceutical Support Services: Validation services, clean room technology, and specialized logistics providers can capitalize on Hikma's expansion

  • Senior Living Innovation: Healthcare technology and wellness service providers should evaluate partnership opportunities in the growing senior housing sector

  • Construction & Design Services: Sustained demand for residential construction materials, interior design, and property management services

  • Food Service Supply Chain: Mediterranean ingredient suppliers and restaurant equipment services can benefit from new dining concept entries

KEY TAKEAWAYS

• Manufacturing Renaissance: Hikma's $1 billion investment reinforces Central Ohio's strategic importance in pharmaceutical production and domestic supply chain resilience

• Residential Market Strength: Diverse apartment developments across urban and suburban markets demonstrate sustained housing demand across demographic segments

• Retail Evolution: New dining concepts and established brand expansions reflect consumer preference shifts and market confidence

• Mixed-Use Innovation: National Church Residences' campus redevelopment model could influence future corporate real estate strategies

• Investment Momentum: Over $1 billion in announced projects this month underscores Central Ohio's continued economic expansion

LOOKING AHEAD

Central Ohio's development landscape continues to demonstrate remarkable diversity and resilience. The combination of major industrial investment, innovative residential projects, and evolving retail concepts positions the region for sustained growth through 2025 and beyond.

Stay connected with the opportunities shaping Central Ohio's business future. Forward this newsletter to colleagues who would benefit from these market insights, and contact us to discuss how these developments might impact your business strategy.

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