Thompson Takes 38,139 SF at Huntington Center

The company will commence the 10-year lease when it moves to the property, overlooking the capitol area, in September. First, as part of the deal, the space will be renovated. "They had been at One Columbus for a long time, but that building is not suited to how law firms are practicing now," says Geoff Adaire, senior managing director of Studley's Midwest office. He represented the firm, along with Adam Mitchell, managing director. "Going to Huntington, the floor plate is much more efficient. They're able to knock down and start new there," Adaire tells GlobeSt.com.

Thompson is moving into space vacated about three years ago by the law firm Jones Day, which relocated to the Arena District. The building, owned by Ohio Teachers Retirement and Hines, is mostly occupied by Huntington Bank. "There is some vacancy in the space that Huntington has, but if you look at it on the surface, it's about 90% leased," Adaire says. The exact lease rate for Thompson can't be revealed, he says, other to say that it's aggressive when compared to the average capitol area office lease rate of between $11 to $13 per sf, net.

The capitol area has been pretty constant, he says. The CBD is about 14.4% vacant, according to a third-quarter market report by Grubb & Ellis. "There was some softness in the market a few years ago, but it's coming back, you're starting to see some true net absorption," Adaire says. Scott Linville with Hines Interests represented ownership.