REIT buys two Market Exchange buildings
Business First of Columbus wrote REIT buys two Market Exchange buildings
August 24, 2007
by Brian R. Ball
A California real estate investment trust has purchased two office properties in Columbus developer J. Daniel Schmidt’s Market Exchange District for $21.9 million.
Records show NNN Healthcare/Office REIT Inc., based in Santa Ana, bought the 56,000-square-foot office building at 515 E. Main St. and a nearby parking lot for $11.6 million. It also bought the 60,000-square-foot medical office building at 500 E. Main St. and a parking lot for $10.3 million.
Schmidt also has the 6,500-square-foot building at 372 E. Main St. on the market for $700,000.
Wilmers said Schmidt continues to have other development plans for East Main Street that will be rolled out in the coming months. Schmidt in February unveiled plans to build four stories atop the former Bobb Chevrolet Co. body shop at 495 E. Main St. as part of a $7 million apartment project.