Lingerfelt CommonWealth Partners has acquired 100 East Broad Street, a 308,337-square-foot, 24-story office tower in downtown Columbus, Ohio.
The tower, also referred to as Chase Tower after one of its prominent tenants, JP Morgan Chase, is located in the heart of downtown Columbus across from Capitol Square. Chase Tower is currently 60 percent occupied and presents a significant repositioning opportunity in a market that has historically experienced office occupancies above 90 percent. Lingerfelt CommonWealth plans to immediately implement a multi-million dollar renovation to the tower, including full elevator modernization, a first-class tenant amenity package, main lobby renovations, new HVAC mechanical equipment, and numerous other significant upgrades to building equipment.
“The opportunity to reposition an asset like Chase Tower, in a market like Columbus, aligns perfectly with our strategy of value investing in real estate markets with improving economic fun
