Office i Ohio

JLL closes $41 million office sale in Columbus area

JLL closes $41 million office sale in Columbus area,ph01

JLL has closed the $41.4 million sale and $27.8 million financing of One and Two Easton Oval, a two-building, Class-A office property totaling 252,461 square feet in the Columbus-area community of Easton, Ohio.

JLL represented the seller, Garrison Investment Group, and found the buyer, Minneapolis-based Founders Properties. In addition, JLL worked for the new owner to secure a seven-year, floating-rate acquisition loan through TCF Bank.

One and Two Easton Oval is located about 10 miles northeast of Columbus’ central business district in the Easton submarket. Positioned near the Interstate-270 and Easton Way interchanges, the property provides commuter access to the greater metropolitan area, including Port Columbus International Airport just 2.5 miles south and nearby expressways such as Interstates 70, 670 and 71.

Additionally, One and Two Easton Oval is proximate to Easton Town Center, a shopping, dining, entertainment and lodging destination providing more than 1.7 million square feet of amenities. Completed in the late 1990s, the two-building property is 91.4 percent leased and offers tenants a variety of open collaborative space plans, an on-site deli, 24/7 security and parking.

JLL Capital Markets Managing Directors Jim Postweiler and Peter Harwood, Senior Vice President Derek Fohl and Senior Director Patrick Shields led the sales and marketing efforts for the seller, and JLL Capital Markets Managing Director Steve Buss and Executive Vice President Marc Nanne represented the buyer in the transaction.

JLL Agency Leasing Senior Vice Presidents Collin Wheeler and Aaron Duncan supported the sales effort with their local market expertise and history leasing the property.

JLL’s Capital Markets debt placement team representing the new owner was led by Managing Director Keith Largay and Vice President Patrik Modig.