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Chicago & Midwest  + Midwest  + Office  | 

Alterra Acquires Owner-Occupied Columbus Offices

Alterra Real Estate Advisors acquired the owner-occupied 3 Easton Oval in Columbus, OH for $6.5 million, or approximately $75 per square foot. The brokerage firm’s Brad Kitchen plans to renovate the 86,524-square-foot property, soon to be vacated by owner M/I Homes, making it available for lease.

Given the low purchase price, and the Easton mixed-use development’s low office vacancy rate of less than 4%, excluding new construction, Kitchen saw a value-add opportunity at 3 Easton Oval. He expects the renovated property to lease up quickly.

Kevin Serna with Liberty National Bank financed the purchase. Alterra will lease and manage the property, originally constructed for M/I Homes in 1995.

Connect Industrial Midwest is coming to Rosemont, IL on March 4. For more information, or to register, click here.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition