{"id":1004378408,"date":"2019-12-26T05:31:16","date_gmt":"2019-12-26T13:31:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004378408"},"modified":"2019-12-26T05:31:16","modified_gmt":"2019-12-26T13:31:16","slug":"lingerfelt-commonwealth-buys-columbus-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lingerfelt-commonwealth-buys-columbus-office-tower\/","title":{"rendered":"Lingerfelt Commonwealth Buys Columbus Office Tower"},"content":{"rendered":"<div id=\"attachment_1004378414\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/100-east-broad-st-e1577128154129.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004378414\" data-attachment-id=\"1004378414\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lingerfelt-commonwealth-buys-columbus-office-tower\/chase-tower-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/100-east-broad-st-e1577128154129.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Lingerfelt CommonWealth Partner&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;Chase Tower (PRNewsfoto\/Lingerfelt CommonWealth Partner)&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;This image must be used within the context of the news release it accompanied. Request permission from issuer for other uses.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;Chase Tower&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Chase Tower\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;100 East Broad St. Image courtesy of Lingerfelt Commonwealth Partners&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/100-east-broad-st-e1577128154129.jpg?w=800\" class=\"wp-image-1004378414 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/100-east-broad-st-e1577128147746.jpg\" alt=\"\" width=\"300\" height=\"225\"><\/a><p id=\"caption-attachment-1004378414\" class=\"wp-caption-text\">100 East Broad St. <em>Image courtesy of Lingerfelt Commonwealth Partners<\/em><\/p><\/div>\n<p>Commercial real estate firm Lingerfelt Commonwealth Partners has purchased a 308,337-square-foot office tower in downtown Columbus, Ohio from The Cadle Co. for an undisclosed sum. Known as the Chase Tower, 100 East Broad St. was built in 1964 and rises 24 stories above the capital city. Atlantic Real Estate Capital provided financing for the acquisition.<\/p>\n<hr>\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/opus-broke-ground-on-columbus-area-industrial-project\/\">Opus to Deliver Columbus-Area Spec Industrial Space<\/a><\/p>\n<hr>\n<p>The purchase expands the firm\u2019s footprint in Ohio and is the 15<sup>th<\/sup> national office to be operated by its affiliated property management firm, Commonwealth Commercial Partners, which most recently <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-secures-81m-mn-office-sale\/\">acquired a 730,000-square-foot office tower<\/a> in Minneapolis this past summer.<\/p>\n<p>Named for one of its biggest tenants, Chase Bank, the Class B office property underwent cosmetic renovations in 2002 and 2015 and also features 11,000 square feet of retail space, per Yardi Matrix data. The Cadle Co. purchased the building in 2007 from Minshall Stewart Properties for an undisclosed amount.<\/p>\n<p>Lingerfelt plans to immediately launch a multi-million-dollar renovation plan at the property, which is currently 60 percent occupied. Upgrades will include a full elevator modernization, a first-class tenant amenity package, main lobby renovations, new HVAC mechanical equipment and several other upgrades to building equipment, according to the firm.<\/p>\n<p>In prepared remarks, Ryan Lingerfelt, president and CIO at the company, said repositioning a building like Chase Tower in an improving office market like Columbus matches perfectly with the company\u2019s current business strategy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Located in the city core, the 308,337-square-foot Chase Tower is currently 60 percent occupied.<\/p>\n","protected":false},"author":745,"featured_media":1004378414,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1585,21743,13,21742,21747],"tags":[43475,48260],"class_list":["post-1004378408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-columbus","category-deals","category-midwest","category-latest","category-office","tag-lingerfelt-commonwealth-partners","tag-the-cadle-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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