Columbus Office Tower Lands a $30M Loan

Citizens Bank provided the loan to HEARN and CrossHarbor Capital Partners, the property owners. The money will be used for future capital projects and leasing costs.

10 W. Broad Street, Columbus
10 W. Broad Street, Columbus

Citizens Commercial Banking originated a $30 million loan for capital projects and leasing costs at One Columbus Center, an office building in downtown Columbus. The deal marks the second partnership closed between the lender and the property owners, a joint venture between HEARN Co. and CrossHarbor Capital Partners. Citizens is the sole lender.

The 25-story office tower is located at 10 W. Broad St. and offers 407,472 square feet of office space and approximately 4,000 square feet of retail space. Amenities include a covered parking garage, a fitness center and conference rooms for tenants. Designed in 1985 by NNBJ, the building benefits from major street exposure on West Broad and North High streets. Across the street is The Ohio Statehouse.

HEARN, which owns several other office towers throughout the Midwest, acquired the property in March 2017. The company has started a series of upgrades aiming to enhance the lobby, entry and corridor areas as well as the fitness center and tenant lounge. The leasing manager is JLL.

Image via Google Street View