COLUMBUS, OH— An NAI Ohio Equities agent was involved in the direct representation of more than $30 million in investment and other real estate transactions during the months of January and February alone. Agent Jeff Gregg completed the second month of 2007 having already sold or leased almost 200,000 square feet of property.
Gregg worked with a private real estate investment group out of Santa Monica, California in its acquisition of a $28.3 million shopping center known as Pahrump Valley Junction, a 95% leased, 117,000 square foot shopping center anchored by Albertson’s and Sav-On-Drug. The property located in Pahrump, Nevada, a desert “bedroom” community approximately 60 miles Northwest of Las Vegas, is one of the fastest growing regions in the United States.
In addition to his investment work out West, Gregg represented a local investor in its acquisition of 2121 Bethel Road, a 13,200 square foot office building anchored by long-term tenant, First Community Bank. Having been on the market for months, the new purchaser saw increased opportunity and value-add potential to the property. Since its sale, the purchaser has successfully secured the remaining vacancies with two separate tenants, replaced the roof, and HVAC mechanical systems.
Contributing to his successful two-month run, Gregg also represented a local developer in the disposition of a Grove City office condo located at 3395 Farm Bank Way. Totaling 2,051 square feet, the property sold for $362,500. Additionally, Gregg also represented Xpedx, a division of the International Paper Company, in its 64,000 square foot lease of industrial space located at Capital Park South in Grove City. Because of their continual growth, Xpedx signed a new lease and nearly doubled the previous space they occupied at Columbus CityGate.
Gregg has worked in the commercial real estate business for more than seven years. As a member of NAI Ohio Equities, he has acquired extensive in-depth experience and a successful track record locating, securing, and closing favorable lease terms and investments for individuals, and local and national companies alike.
In addition to his own successful month, NAI Ohio Equities agent Don Brokaw completed two lease transactions of his own. Located at 4002 Powell Rd., Powell and 1120 O’Neil Dr., Hebron, the lease transactions included 13,000 square feet of property. Additionally, Agent Tim Treasure completed the lease of a 2,462 square foot medical office building located at 618 Pleasantville Rd. in Lancaster, Ohio.
Operating as central Ohio’s largest locally owned commercial real estate company; NAI Ohio Equities has been serving the Columbus real estate market for more than 35 years. Located downtown in the Columbus Brewery District, NAI Ohio Equities is comprised of a team of twenty-five agents making up an experienced Brokerage Department specializing in land, retail, office, investment and industrial real estate. In addition to the Brokerage Department, NAI Ohio Equities has a reputable Property Management Division managing more than 12 million square feet of property. As an affiliate of NAI Global, Ohio Equities is part of a network of 5000 professionals working in 350 offices in 45 different countries. For more information on NAI Ohio Equities including available brokerage and property management services visit www.ohioequities.com or please call 614-224-2400.