Chicago-based Ravinia Capital Group paid $12.8 million for Columbus' Bicentennial Plaza, according to the Franklin County Auditor.
The office building, located at 250 Civic Center Dr. downtown, is six stories with about 105,000 rentable square feet. The building is about 75% occupied. Tenants include Casto, Pace Financial, Taneff Law and law firm Dickie, McCamey & Chilcote.
Ravinia Capital Group now owns more than 350,000 square feet of office space in Columbus.
The firm's local portfolio also includes the 12-story, 146,000-square-foot building at 500 S. Front St. in the Brewery District, which Ravinia bought for $24.1 million in 2019, and the 108,000-square-foot 855 Grandview Ave. building in Grandview Heights, which it bought for $13.8 million that same year, according to information from the Franklin County Auditor. Ravinia entered the market in September 2015 when it acquired the 46-unit Kramer Place in Italian Village.
"There is a solid market for office investors in Columbus," Lanford said. "Investors both local and national are itching to get into the Columbus office market."
Casto bought the Civic Center Drive building via Marconi Partners LLC for $6.1 million in 2012. Brad McMahon, Clayton Davis and Alex Ashworth of JLL represented the Columbus real estate firm in the Ravinia sale.