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:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 885 Stelzer Road
- Market: Columbus, OH
- Square Footage: 207,740
- Landlord: Weston Inc.
- Tenant: Ryan Vesler - Homage
- Landlord's Representative: Derek Lichtfuss & Terry Coyne - Newmark
- Tenant's Representative: Weston Devore - CBRE
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
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