CBRE Arranges Sale of One & Two Easton Oval Office Buildings in Columbus, Ohio

CBRE has arranged the sale of One Easton Oval and Two Easton Oval, two Class A office buildings totaling 252,500 square feet in Columbus. IMC Management, LLC, purchased the property for $17.5 million.

CBRE’s Steve Timmel, CCIM, Will Roberts, Collin Wheeler and Aaron Duncan represented the seller in the transaction. Wheeler and Duncan will also be responsible for marketing and leasing of the portfolio.

The portfolio is located at One & Two Easton Oval, minutes west of Interstate 270 and within the Easton Oval Office development, a master-planned business park adjacent to Easton Town Center. Originally built in 1995 and 1998, the buildings were 60% occupied at the time of the sale.

“We continue to see significant interest in Class A office assets with value-add components across the state of Ohio,” said Timmel. “The market for office investments is rebounding, and some investors are getting in early. Easton’s reputation as the top submarket across the Columbus region, with leading occupancy and rental rates, drew multiple offers, including from Canada. It is this appeal that attracted the buyer pool and continues to attract tenants to the submarket.”

According to CBRE Research, the Columbus office market saw 200,021 square feet of positive net absorption, the highest net absorption recorded by the office market since late 2019. Additionally, the overall market vacancy rate fell to 20.5%, the lowest recorded vacancy rate since early 2022.