A Broken Arm, Dorian’s 3rd Birthday Party, Tax Day, and Thoughts on Commercial Leases in Columbus Versus Newport Beach
We made it through tax day at the firm, which is usually the busiest time of the year (followed only by the weeks around Christmas where there are some last-minute rushes to handle things prior to the close of the calendar year). I’m now gearing up for my favorite activity, which is a complete top-to-bottom review of each portfolio under our management, cycling our way through individual and family holdings to determine if there is anything that has changed and if there are any opportunities we think are sufficient to justify rebalancing existing holdings. This is a more intensive than the usual rebalancing or event-specific reviews triggered by, say, a large cash deposit.
Getting through that aforementioned tax deadline was slightly challenging this year because we had a family emergency when Dorian built a tower of blocks on top of a Pottery Barn stuffed canoe and, in his own words, “high dived” off it onto the floor, breaking his left forearm in two places. This meant spending time in the flagship Nationwide Children’s Hospital in downtown Columbus as he had his arm set into a cast. Strangely, we, as his parents, seemed much more concerned and distraught by it than he was as it took no time at all for him to adapt and recover. On our way out of the Emergency Room, he swung around with his newly-secured arm and accidentally socked me in the nose, causing me to start bleeding and the nurses to come to my aid. It was a comedy of errors that we can now laugh about but at the time it was stressful. He’s already telling us he can’t wait for the cast to come off so he can “climb again”.
Speaking of Dorian in particular, for his 3rd birthday, we did several Arts & Craft projects and had a small family-only party. The whole thing was themed yellow, since that is his favorite color. We got him a double chocolate chip bundt cake with vanilla icing and Grandpa made him a chocolate and vanilla cake covered in homemade yellow buttercream frosting to match the yellow plates and yellow napkins. The rest of the day was spent playing with toys – the robot claw and realistic tool set in a tool box are especially popular – and watching Disney+. Grandma and Grandpa got him some cool new clothes which we’re excited about because he seems to be going through another growth spurt. Several of his shirts were – you guessed it – yellow. Later, after everyone had left and Graham had gone to bed, he, Aaron, and I were in the playroom where he charged me only three pretend dollars for a very large sandwich and iced tea from his new pretend restaurant setup. I felt it was a great bargain and Aaron told him it deserved a 5-star review on Yelp.
Graham is definitely excited for his birthday later this year. Things really are different as the kids approach (and now, for Dorian, exceed) three years old. They have so many traits that make them distinctly themselves; musical preferences, food preferences, favorite color, even opinions on what cartoon they want to watch in the morning before breakfast.
We’ve also been making a point to take time as a family almost every night to either walk several miles or, on certain days, ride our bikes together. Aaron got one of those Burley Bee two-seater bike trailers so we can still get out and enjoy some exercise while the kids ride behind us, usually telling us to “Go faster like the roadrunner!” These outings help us connect as a family despite the long hours we work and, in addition, have given us a deep appreciation for the environment around here. I’ve been impressed with many of the flowering trees planted around New Albany, many right off the walking trails. They are filled with bright red cardinals, blue jays, mourning doves, robins, and hawks. There also seem to be a lot of deer, rabbits, and squirrels around, too.
Walking through some of the neighborhoods, especially those modeled after places like Colonial Williamsburg, is so cool as the sun starts to set. It’s insane how well designed some of these houses are despite not taking up a large footprint; many are between 3,000 and 4,000 square feet inclusive of the basement but appear much smaller. I have a feeling that Aaron and I are going to end up adding to our collection of properties, maybe buying individual houses and putting them in trust for each of our kids so they at least have shelter guaranteed for the rest of their lives no matter what else happens. If America designed its communities more like New Albany, so many problems could be solved.
In other news, the search for commercial office space that I mentioned recently has hit full stride. We had decided to negotiate and sign a lease at one of the Water’s Edge buildings in New Albany with the hope of scheduling the remaining shipment of property, plant, and equipment sooner rather than later. Dis aliter visum. Despite the office suite off the main lobby still showing as available in marketing literature, the landlord was not interested in entertaining any proposals because management intends to expand the space for an existing tenant and are in the final stages of negotiations.
This is a disappointment because I would strongly prefer the local income tax to go to New Albany since we are determined to build our life here. When Dorian broke his arm, the paramedics from the Fire Department were at our door probably within 120 seconds of us calling 911. It was one of the most impressive things I’ve ever witnessed. I want to support that and do our part to make sure their coffers are always filled. Yet, the lack of suitable commercial space for a firm like ours might force our hand; at least until we build something. As such, a few days ago, Aaron and I rescheduled our day so that we were able to pack multiple tours in across four, five, or six buildings in the Easton Town Center area of Columbus. It’s too early to tell if anything will come of it, mostly because the area isn’t, quite, geared towards higher end professional service firms like you find in Newport Beach. (The inventory in Columbus proper has given me such an appreciation of The Irvine Company. While Columbus is far better in terms of price-to-value for for the wealthy when it comes to residential real estate, Donald Bren’s empire made it so easy for white-shoe firms and the brokers with whom they were working to find a space, negotiate a lease, and get deals closed quickly and efficiently. I wish he owned a few Class A commercial buildings in the area. He deserves his success.)
