Greg Weber with the Daimler Group represented the owner ofWatermark, with assistance from Bob White Jr. Weber tellsGlobeSt.com that United made the move because of the uniqueness ofthe building, which has gated access, a courtyard, pond and a daycare. The company signed a five-year lease, he says. The island wascreated from fill left from the construction of the Downtownconvention center eight years ago. H2O Island LLC owns thebuilding. The ownership entity is comprised of the Showe Family,Capital Square Ltd., and individuals from the Daimler GroupInc.

The Watermark building, built for Blue Cross in 2000, is nowabout 75% leased, Weber says. The asking price is $13.95 per sf, hesays. It's been a slow lease-up process because of the economy, hesays. "We're still struggling, like a lot of Midwest markets. Theoverall Columbus office vacancy is about 20%," Weber says.

United is leaving their 85-year-old building because of proposedhotel development, Weber says. The Pizzuti Group is reportedlygoing to build a block-long, mixed-use development that willinclude a 160-room hotel, a 500-space parking garage, a 50,000-sfoffice and residential building and about 12,000 sf of retail.