Commercial real estate developer Daimler Group finished its major mixed-use development last summer in the Franklinton neighborhood of downtown Columbus, Ohio. The development of The Peninsula Office at 330 Rush Alley has earned it a 2023 CoStar Impact Award for commercial development of the year in Columbus, as judged by real estate professionals familiar with the market.
The Peninsula Office features 230,000 square feet of office and retail space. Residential apartments will be provided in adjacent properties, along with a 1,400-car parking garage.
This Memorial Day weekend, Columbus-based investment firm Rockbridge will open The Junto, a 198-room hotel with a full-service restaurant and rooftop bar, at the property.
The building is centrally located in downtown Columbus near the Scioto River, Genoa Park, the Center of Science and Industry and Franklinton's brewery district.
The Franklinton neighborhood is growing as the area has seen an influx of delivery companies moving in to meet the demands of online shopping and home delivery. Businesses such as cafes and shops in Franklinton have seen a surge in demand as well. Property prices in the market are rising along with increased demand for commercial and residential space.
About the project: The Peninsula Office at 330 Rush Alley is an eight-story office building with 230,000 square feet of commercial office and retail space. It opened in June 2022. Its major tenants are Telhio Credit Union, Burgess and Niple, Deloitte and Insight Global.
What the judges said: "The development of the peninsula area in Franklinton has [brought] new life into an area of Columbus that has been starved of capital for over 100 years. This development shows the dynamic environment of Columbus today." — Stephen Stuckwisch, senior lecturer of finance at Ohio State University.
"Scioto - The Peninsula Office was a much-needed project for the area. Franklinton has been on the rise the past couple of years and this project is going to continue to promote development in the area." — Stephen Gale, economic development specialist at the City of Westerville.
They made it happen: Brooke Reinke, marketing director, The Daimler Group.
