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Blackstone Sells Midwest Portfolio for $77M
Blackstone sold a seven-building, 1.1-million-square-foot suburban office portfolio in the Columbus, OH suburb of Dublin, to RMC Corp. for $77 million. Patrick Arangio and Jack Howard, of CBRE’s Midtown Manhattan office, arranged the sale on behalf of the seller. Donald Roberts and Philip Pelok, of CBRE’s Columbus office, provided local market expertise and transactional assistance.
The portfolio consists of seven Class A/B office buildings. Constructed between 1991 and 2002, the multi-story, multi-tenanted buildings have been institutionally maintained and are currently 76% leased.
The properties included are:
- Atrium II, North & South, 5475 and 5455 Rings Rd.; 291,445 square feet
- Parkwood Place, 6000 Parkwood Place; 158,044 square feet
- Emerald III, 6500 Emerald Pkwy.; 128,280 square feet
- Blazer I & II, 5550 & 5600 Blazer Pkwy.; 156,848 square feet
- Parkwood II, 5900 Parkwood Place; 164,900 square feet
- 5515 Parkcenter Circle; 117,003 square feet
- 5555 Parkcenter Circle; 84,167 square feet
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- ◦Sale/Acquisition
