JLL has been selected to lead the sale of 501 W. Schrock Road, a 60,133-square-foot office building located in Westerville, Ohio.
Representing the undisclosed seller is JLL Managing Director Andy Dutcher. According to Dutcher, this property is one of Columbus’ top office investments due to its prime location and lack of nearby competition. He also notes that the versatile suite sizes make it an attractive option for potential buyers. This sale serves as a testament to the strength and resilience of the local office market.
This property presents a rare opportunity for investors as it is currently fully leased by multiple tenants and listed at $6.2 million. Situated on nearly five acres in Westerville’s Schrock Road corridor with easy access to I-270, this building offers outdoor amenities for tenants and ample parking with 270 spaces available.
A recent report from JLL shows positive signs for Columbus’ office market with year-to-date net absorption reaching 122,604 square feet – indicating stability within this sector.
Connect CRE reports that JLL has been chosen as the lead agency responsible for selling a four-story office building located at 501 W.Schrock Road in Westerville, Ohio.The seller’s identity remains undisclosed but they have entrusted JLL Managing Director Andy Dutcher with representing them during negotiations.Dutcher believes that this landmark property stands out among other investment opportunities within Columbus due its strategic location,prominent presence,lack of competing properties,and flexible suite options.He further adds how these factors are indicative not only towards making it oneofthe best officespace investments,but also showcases how resilientthis particular real estate segmentis proving itselfto bein spiteof current economic challenges plaguingthe industry.Accordingly,the asking priceforthis assethasbeen setat$6 .2millionand representsoneofthefewmulti-tenantofficespaceswithin recent years which boastsa100% occupancy rate.
The property spans nearly five acres and offers tenants access to outdoor amenities as well as 270 parking spaces. JLL’s recent report on Columbus’ office market shows positive signs of stability with a year-to-date net absorption of 122,604 square feet. This further reinforces the attractiveness of this investment opportunity for potential buyers looking to capitalize on the resilience and growth potential within this region’s real estate market.
