NEW ALBANY, Ohio – It looks as if a city in Ohio has successfully entered the medical office building (MOB) development arena. In New Albany, a city of about 7,300 people in the northeast suburbs of Columbus, city officials are moving forward with the development of a 48,000 square foot building that will contain mostly medical space. City officials recently announced that they are on the verge of landing one heck of a tenant, Wexner Medical Center at The Ohio State University in Columbus, to one heck of a lease term: 20 years. According to local reports, university trustees were expected to vote in coming days on a signing the 20-year lease for 35,000 square feet of the building, which the city will develop and own. As the developer, the city plans to issue $9 million in bonds to construct the project, which is planned for land at the corner of Main Street and Village Hall Road, near New Albany City Hall.
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