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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 8 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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To gauge perceptions of the state of the economy and business in Columbus, particularly the commercial real estate (CRE) industry, Thompson Hine once again partnered with Columbus Business First to survey local business owners and executives. A total of 197 business leaders from a wide range of industries participated in this year’s survey; their insights are compiled in Thompson Hine’s newly released report, “<a href="https://admin.thompsonhine.com/wp-content/uploads/2024/02/Thompson-Hine-Columbus-A-Market-in-Transition-2024.pdf">A Market in Transition: Adapting to Thrive</a>.”

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The respondents’ perceptions include (see report for more information and specific percentages):

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While executives’ satisfaction and optimism regarding CRE dipped just slightly from last year, they are still fairly evenly split on the state of the market.

“While this survey revealed a full range of experiences and emotions, it ultimately reflects clear positive strides and continuing potential,” said Michael Wible, partner in charge of Thompson Hine’s Columbus office. “This conclusion is supported by additional non-survey data showing recent ‘positive absorption’ rates and evidence that current vacancy rates are driven mostly by older buildings. We also hear developers indicating that they remain bullish and see businesses continuing to relocate to the area.”

Wible concluded, “Realistically, the number of workers occupying downtown office spaces may never return completely to former levels, and that’s okay. Even as many do return, we are also already finding new uses for some of our empty spaces and reimagining what an office is. The path to Columbus’ continued growth depends on our collective ability to accept, adjust to, and embrace change, and our firm is excited to continue doing so – and to help our clients do so – in this city that we love and that has been our home since 1991.”

Industries represented in the survey include real estate, construction, consulting, financial and investment services, architecture/engineering, technology, insurance, and healthcare, among numerous others. A majority of respondents were VP+ business executives, with the largest cross-section being business owners. Annual revenues ranged from less than $500,000 to $1 billion or more.

Thompson Hine is committed to staying abreast of significant business trends and continuously innovating to meet clients’ evolving needs.

https://admin.thompsonhine.com/wp-content/uploads/2024/02/Thompson-Hine-Columbus-A-Market-in-Transition-2024.pdf

Thompson Hine Report Measures Perceptions of Columbus Economy, Business Landscape, Commercial Real Estate Market

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