Cantor Fitzgerald Purchases 241,493 Square Foot Columbus, Ohio, Office Tower
CFI, together with Rodin Global Property Trust, Inc., a public, non-traded real estate investment trust sponsored by CFI, acquired the asset for $46.95 million, company officials said. The property is 100 percent leased through September 2032 to Comenity Servicing LLC, a subsidiary of Alliance Data Systems Corporation, which serves as guarantor of the lease.
"This acquisition demonstrates our commitment to investing in assets that possess both high credit quality tenants and strong real estate fundamentals," says Roger Shreero, Managing Director, Cantor Fitzgerald.
Recently constructed in 2017, the building is part of a three-property office campus that houses more than 1,700 employees and serves as the headquarters for Alliance Data Card Services.
The property is located in the Easton submarket of Columbus, Ohio, a 1,300-acre master planned community comprised of approximately 4.2 million square feet of Class A office space and almost 3.8 million square feet of retail space, as well as several multifamily residential properties and luxury hotels.
"This building represented another excellent opportunity for us to continue on our trajectory of disciplined growth, expanding our portfolio with exceptional assets and world-class tenants," explained Ken Carpenter, Managing Director, Cantor Fitzgerald and President of Rodin Global. "It demonstrates our continued focus on seeking strategic investments in mission-critical assets with creditworthy tenants on long-term leases."
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