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885 Stelzer Road

Homage Signs 207740 SF Office Lease At 885 Stelzer Road With Landlord Weston Inc
LEASEDOffice

Homage Signs 207740 SF Office Lease At 885 Stelzer Road With Landlord Weston Inc

885 Stelzer Road

Building Size

207,740 SF

Asset Type

Office

Closing

May 19, 2025

AI

The property involved in this transaction is an office asset located at 885 Stelzer Road in Columbus, OH, encompassing a total square footage of 207,740. The asset is newly built, having been constructed in 2024, and is strategically positioned near John Glenn International Airport.

Summary of transaction details:

This lease agreement signifies a strategic relocation for Homage, represented by CBRE's Weston Devore. The lease was facilitated by Newmark, with Derek Lichtfuss and Terry Coyne representing Weston Inc. The expected move-in date is set for the end of the year, aligning with the tenant's operational requirements.

Players

Derek Lichtfuss

Newmark

Broker

$12.7M

vol

2 deals

Broker
WI
Weston Inc.Landlord

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