River East Center
1515 SE Water Ave, Portland, OR 97214
9,290 sm
Jones Lang LaSalle Americas, Inc. (“JLL”) as exclusive advisor, presents an investment opportunity to acquire the leasehold interest in 100 East Broad (the “Property”), a centrally located 25-story office tower in Downtown Columbus, OH. The Property offers numerous advantages, such as its proximity to the Scioto River and its appeal to highly skilled employees in the Midwest’s fastest-growing MSA by GDP. With five universities within a 10-minute drive, the area benefits from a constant influx of students.
100 East Broad boasts high visibility signage opportunities, panoramic views, and direct access from I-71. It is also strategically positioned amidst several billion dollars’ worth of new multi-housing, hospitality, and retail developments, as well as major infrastructure improvements. The Property’s flexible floor plates of approximately 12,800 BRSF and ample natural light through four sides of glass provide investors with various options for the future business plan. Current Ownership has invested over $7.7MM ($25 PSF) in defensive and offensive capital improvements, offering the next buyer a significant advantage by minimizing future CapEx requirements.
Due to 100 East Broad’s zoning (DD, Downtown District Zoning), design, and rectangular floor plate with a side-loaded core, the Property can accommodate alternative uses, including residential and hospitality repositioning. The Property has successfully cleared multiple hurdles required for qualification as a historic tax credit development, which adds significant value to developers specializing in conversions. Additionally, the boutique floor plans present opportunities for small to mid-sized office tenants in Columbus’ evolving and growing CBD to occupy prominent full or partial floors for a continued office-use.
Ohio Brokerage
Jon Vanverplough
216.937.4376
Jon.Vanderplough@jll.com
License #: 2005015674