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Bicentennial Plaza sells for nearly $13M

Bicentennial

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.

Casto was the seller. The firm has committed to a long-term lease which was attractive to Ravinia, said Colliers' Ross Lanford, who represented Ravinia along with Daniel Dunsmoore and Michelle Fude.

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 McMahonClayton Davis and Alex Ashworth of JLL represented the Columbus real estate firm in the Ravinia sale.


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Michelle Fude

Brokerage Associate

Columbus

Michelle specializes in office leasing and tenant representation. She focuses on canvasing all competitive properties to confirm tenant rosters, identify initial target markets and complete daily cold calling. Michelle delivers constant communication to clients through activity reporting on all current deal activity and provides daily creative solutions and proactive marketing plans specific to each property. 

Prior to joining Colliers, Michelle worked in the financial services industry. She held various positions utilizing top notch customer service and problem solving skills. Her main objective was to find positive solutions for customers that focused on balancing company profit with customer satisfaction. Michelle has brought that same drive and passion to the Colliers Columbus Office Service Group. 

 

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Ross Lanford

Brokerage Executive Vice President

Columbus

As an Executive Vice President and Principal at Colliers | Greater Columbus Region, Ross specializes in office leasing, investment sales, development and buyer/tenant representation. Through his experience in brokerage, property ownership, and asset management, he helps his clients evaluate both purchase and lease opportunities from all perspectives. Ross and his partners in the Columbus Office Services Group currently handle the leasing for more than 8 million square feet of Class A and B office space in Central Ohio.


Ross’ dedication and knowledge provide successful solutions for his clients in project asset types ranging from new development to creative use redevelopment projects. With more than 15 years of real estate experience, Ross has completed transactions totaling more than $650,000,000 in value.

Before joining Colliers, Ross most recently spearheaded his own venture of Superior Real Estate Advisor/Superior Shot Sales specializing in redevelopment projects and loan workouts, while splitting time between Columbus, OH and Charlotte, NC.  Prior to that, he was a commercial broker for Alterra Real Estate in Columbus, OH, working directly with buyers, sellers and tenants in completing all stages of the commercial sales, and leasing process.


He also worked with the Merrill Corporation in NYC as a legal account executive. While there, he was the top sales representative in electronic data management for all NY and NJ.


Ross is currently an active investor and involved in various commercial development and redevelopment projects across the Midwest and southeast.

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Daniel Dunsmoor

Brokerage Executive Vice President & Principal

Columbus

Dan is recognized as a market leader in the Columbus, Ohio commercial real estate market, specializing in the lease and sale of Class A and B office space.


Dan has been involved with over 750 commercial real estate transactions valued in excess of $800,000,000 and accounting for over 5,000,000 SF of Class A and B office space.

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