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500 Neil Avenue Columbus, O...

Updated Oct 29, 2024

Strand Associates Leases Office Space In Chipotle-Anchored Building In Columbus' Arena District
LEASEDOffice

Strand Associates Leases Office Space In Chipotle-Anchored Building In Columbus' Arena District

500 Neil Avenue Columbus, Ohio 43215, USA

Building Size

13,000 SF

Asset Type

Office

Closing

Jul 6, 2023

About this deal

AI

Engineering consultant Strand Associates has leased a 13,000 square foot space in the Chipotle-anchored office building located at 500 Neil Avenue in Columbus' Arena District. The lease was signed on July 6, 2023. The office building is part of the ongoing redevelopment efforts by Nationwide Realty Investors. Although the building still has available space, it is undergoing transformation as part of the revitalization of the area.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not available
  • Address: 500 Neil Avenue
  • Market: Columbus, Ohio
  • Tenant: Strand Associates

Strand Associates, an engineering consultant, has chosen to lease space in the Chipotle-anchored office building in Columbus' Arena District. This lease agreement is part of the ongoing efforts by Nationwide Realty Investors to redevelop the area. The tenants will benefit from the transformation of the office building and the broader revitalization of the surrounding neighborhood.

Players

Columbus Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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