Columbus Office Market Gets Another Tower

COLUMBUS—As reported in GlobeSt.com, the office market here has become quite robust, with falling vacancy rates and even some new spec construction. And now one of the upcoming neighborhoods near the downtown is getting a new mixed-use building that should appeal to younger office workers.

Developed by The Wood Companies and Schiff Capital Group and located at 711 N. High St. in the Short North arts district, the nine-story, 163,000 square foot project will include 90,000 square feet of office space, making it the first office building in the neighborhood taller than six stories.

The developers plan to complete the project in early 2018. Its amenities will include a fourth-floor clubhouse, fitness facility, private walk-out terrace, first-floor restaurant and rooftop bar/restaurant.

The developers have selected Avison Young as the leasing partner. “The firm's experience in leasing Class A office space and knowledge of downtown submarkets made the assignment decision an easy one,” says Joel Lilly, chief financial officer of Schiff Capital Group.

“The 711 office development will be the most transformational and iconic development in Central Ohio's most vibrant neighborhood, the Short North arts district,” says Mark Wood, president of The Wood Companies. “The Short North's success is attributed to its strategic location between Ohio State University and downtown Columbus and the bottom-up development approach in which businesses and homeowners come together to create an authentic living, working and retail experience.”

“There has been strong interest from employees of various firms desiring to relocate to the vibrant location,” he adds. “Millennials in particular are attracted to the live, work, play culture that the Short North offers.”

In the first quarter, developers here set a record for the Columbus area by having 1.6 million square feet under construction, including about 600,000 square feet of speculative projects, according to a recent market report from Cushman & Wakefield. The downtown has outperformed the suburbs, and now has a vacancy rate of just 12.4%, compared to 14.2% for the metro area as a whole.

“The 711 North High Street development will fill a growing demand for high-quality class A boutique office space in the area, and will provide tenants with numerous walkable amenities and great views of Short North, Goodale Park and Downtown,” says Scott Pickett, principal and managing director of Avison Young's Columbus office, who will lead the leasing team.

The team will include David Patten and Tom Miles, a senior vice president and associate, respectively, in the Columbus office.

Instant Insights /

Columbus Office Market Gets Another Tower

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