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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Deal FAQ
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