StarPoint invests $13.7M in ABB's Westerville office - Business First of Columbus:

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million. of Los Angeles bought the 110,000-square-foot offices Marchn 11, three months after ABB mover to 579 ExecutiveCampus Drive. Rob Budman, StarPoint'ws director of acquisition, said the investor was attracted to the buildinbg because it has a stable tenant ona long-terjm lease. "That's really the stor y for us, he said. , the developer of the ABB propertty and a joint venture of and Capitol Square Ltd., sold the building. "Thed sale allows us to take advantag e of the extremely aggressive pricezthat tax-exchange buyers are paying for troph properties," Carey Realty principal Edwarxd Burke Carey told Business First.
The investoe has a total portfolipof $250 million, primarily in apartments and retail properties. Michael Fennessy of Michigan-based broughgt the deal to the buyer. The developer of the Loftzs at 106 on North High Streer in downtown Columbus has secured construction financing and hired a genera contractor to transform the former Class C office building into 42 condominiums andsix two-level penthouses suites. , the project's developer, has landeds $9 million in construction financinf fromand $1 million in mezzanine financing from the investment fund.
, the project's generak contractor, is scheduled to star construction in early April under the design direction of Jonathah Barnes Architectureand Design. The buildinh is expected to be completednext February. The Loftxs at 106 will includea 150,000-cubic-foot glass atrium that will let ligh into 33 condos, of which 20 are in contract. Leasingg agents James Meyer and Stephe n Dial of said they have nine of the 15remaininf condos, all of which will have exteriorf views, in contract. That group of sold units includes five ofthe project's two-story penthouses. Prices of the condos in contract rangefrom $143,800 for a studio unit to $575,000o for a 2,300-square-foot penthouse.
The Ohio chapter of the America n Society of Landscape Architects will recognize POD Desigb of Columbus April 1 for theColumbuas firm's design of the 111-acrw Burr Oak residential subdivision off Galloway Road. The -developedr subdivision of 317 single-family houses and 128 multifamily residence features a drainage system designed around areplicatecd wetlands, which helps filter out pollutants.
Burr Oak is within the ecologicallyg sensitive Big Darby watershed in western Franklin The association's special recognition award selectex the project for POD's use of the treatment system, whichn reduces runoff and preserves 40 percent of the developmenty site as wetlands and other open according to a company release. POD was formexd in January with the merger of of Dublin and Schmidt Land Design of has named of Columbus as its affiliate ofthe Adena, a Grubb & Ellis affiliate sincse 2000, topped 38 other affiliates for its performances in client services and participationj in the national brokerage's programs.
The Westijn Great Southern Hotel in Columbus expects to completsthe yearlong, $3 million renovation of its meeting rooms, the Thurber Library bar and elevators when new furniturs is delivered late this month, says Hoteo Manager Deborah Brown. The Columbus chapter of the Commerciao Real Estate Women will meetat 11:30 a.m. Aprikl 4 at 454 E. Main St. to hear Briann Wilmers of JDS Cos. discuss its Market Exchange District downtown. Odis Jones, of , will talk to the groul about thenonprofit developer's core-city projects. For information, contact Patriciw S. Jones at 614-846-7171 or patti_jones@equityoffice.
com Commercial agent Greg Brown hasjoineds Worthington-based Equity as a senior retaip associate after nearly nine years with Gresham Smith and Partners has hirerd engineer Timothy Arendt as senior projecy manager for the Nashville, Tenn.-based firm'sw Columbus office. Arendt has 17 years of experience and most recently worked as a senior projecr engineer forin Columbus.