Transwestern Investment Co.--acting on behalf of its Aslan Realty Partners II Fund, and relying on brokerage assistance from affiliate Transwestern Commercial Services—was the seller. Transwestern Investment had acquired the property for $12.4 million in 2002, after which point it instituted an improvement and stabilization program. Brokers on the deal included Transwestern's Asset Investment Andy Stape, Bob Filley and Joe Friedman, who worked with Transwestern's Brian Watts and Tom Gentner.
One Columbia Center, also referred to as the Fountainhead Title Group for its lead tenant, was developed in 1976 and renovated in 2001. The four-story structure has an occupancy level near 100%, with offices of the US Government and Maggie Moo's International LLC making their home at the property. Fountainhead occupies about 42% of the space. Transwestern had been handling leasing at the building, and marketed space for $23 per sf.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.