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Chicago real estate investor buys Bicentennial Plaza

Bicentennial

Chicago-based Ravinia Capital Group has purchased Bicentennial Plaza, an office building located at 250 Civic Center Dr. downtown.

The building is a Class A, six-story office building with about 105,000 rentable square feet. Tenants include Casto, Pace Financial and Taneff Law.

Ravinia plans to upgrade the building, James Solomon, managing principal at the real estate investment firm, said in a media release.

“We are excited about adding another high-quality office asset to our Columbus portfolio,” Solomon said.

Ravinia Capital Group now owns more than 350,000 square feet of office in Columbus.

The company'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.

250 Civic Center overlooks the Scioto Mile, is directly across the street from Bicentennial Park and is within walking distance to several downtown amenities like the Scioto Peninsula and the Columbus Commons. There is an on-site fitness center and both a covered garage and surface lot the serves the building.

Arshot Investment Corp. developed the building.

It was last sold in 2012 to Marconi Partners LLC for $6.1 million. Ravinia's purchase price was not disclosed.

“Bicentennial Plaza is one of downtown Columbus’ premier and most recognizable office buildings,” said Daniel Dunsmoor of Colliers, who helped facilitate the deal.

“Ravinia has demonstrated its strength as a professional local operator. This should ensure a terrific tenant experience for current and future tenants at the property,” Dunsmoor said.

Dunsmoor, Ross Lanford and Michelle Fude of Colliers International represented Ravinia in the purchase of the property. Brad McMahonClayton Davis and Alex Ashworth of JLL represented the seller.

Colliers will do the office leasing at the property moving forward.


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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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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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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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