Greg Weber with the Daimler Group represented the owner of Watermark, with assistance from Bob White Jr. Weber tells GlobeSt.com that United made the move because of the uniqueness of the building, which has gated access, a courtyard, pond and a day care. The company signed a five-year lease, he says. The island was created from fill left from the construction of the Downtown convention center eight years ago. H2O Island LLC owns the building. The ownership entity is comprised of the Showe Family, Capital Square Ltd., and individuals from the Daimler Group Inc.

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

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