Office i Ohio

Joint venture pays $2.95 million cash for New Albany, Ohio office property

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The group, led by Alterra Real Estate Advisors President, Brad Kitchen, and Tom Heilman of Hometeam Capital, paid cash for the property and plans for upgrades to the building as well as lease up to 33,000 square feet of available space.

A Columbus, Ohio-based investment group recently paid $2.95 million for a 67,170-square-foot office property at 6252 W Campus Oval in New Albany, Ohio.

The group, led by Alterra Real Estate Advisors President, Brad Kitchen, and Tom Heilman of Hometeam Capital, paid cash for the two-story property and plans for upgrades to the building as well as lease up to 33,000 square feet of available space.

The property was built in 1993 by Duke Realty and renovated in 1999. It's currently 56 percent occupied with Mission Essential Personnel as its largest tenant. The property will be both leased and managed by Alterra Real Estate Advisors.