Tour Capitol Square tower undergoing $7M in renovations All News
Posted: June 13, 2018
Interior work is finishing up on one of the largest office towers on Capitol Square.
Hearn Co. acquired the 25-story high-rise at 10 W. Broad St. for an undisclosed price last year and took out a $30 million loan in part to refresh the 407,000-square-foot building's common areas.
That company has experience in repositioning large urban office towers, including Chicago's iconic John Hancock Tower.
Formerly One Columbus, the building now goes by 10 West Broad. It islocated at the corner of Broad and High streets.
This week, the building's leasing team, Collin Wheeler, Aaron Duncan and Brad Stricker of JLL, showed off the $7 million in renovations and upgrades.
The building has floor plans of about 17,000 square feet, but can support new tenants that want as little as 1,000 square feet to an anchor that uses two or three full floors.
"You really need to walk through it to feel it, but it feels very different and just very refreshed," Duncan said.
The building has seen several significant updates especially to common areas, including the lobby, hallways, elevator banks and gymnasium.
There is more common space, too, for tenants to use for large meetings, and there is a rooftop area with an indoor lounge and outdoor balcony.
Duncan said the team is looking to diversify the tenant mix in the building, which has long featured professional services and bank tenants, but could see a wider range of users seeking more open floor plans,
especially health care and technology companies.
"It's better set up for what it could be," Duncan said.
Rents have increased in the tower – two state agencies vacated 32,000 square feet, citing a boost rent from $13.75 per square foot to $23 per square foot in 2018, a 67 percent increase.
Other tenants include U.S. Bank, the National Federation of Independent Business and Red Capital Group, according to Columbus Business First research.
To see full article, please click here.
By Tristan Navera