"REIT buys two Market Exchange buildings" Business First of Columbus

Link: REIT buys two Market Exchange buildings
Brian R Ball
Business First of Columbus
August 24, 2007

A California real estate investment trust has purchased two office properties in Columbus developer J. Daniel Schmidt's Market Exchange District for $21.9 million.

Records show NNN Healthcare/Office REIT Inc., based in Santa Ana, bought the 56,000-square-foot office building at 515 E. Main St. and a nearby parking lot for $11.6 million. It also bought the 60,000-square-foot medical office building at 500 E. Main St. and a parking lot for $10.3 million...

...Wilmers said Schmidt continues to have other development plans for East Main Street that will be rolled out in the coming months. Schmidt in February unveiled plans to build four stories atop the former Bobb Chevrolet Co. body shop at 495 E. Main St. as part of a $7 million apartment project.

CitySpace drops hints of another project on the way

At tonight's Downtown Resident's Association of Columbus meeting held at his Sixty Spring condominium project downtown, developer Dan Schmidt hinted that CitySpace will be announcing a 100+ unit project in the coming weeks, somewhere in the downtown area.

Maybe, hopefully I should say, CitySpace is looking to capture that under-served entry-level demographic in and around the $200,000 price point and lower...but we'll have to wait and see.

Of course I have a few thoughts in my head of where the project could be but I haven't heard anything about this one so I guess I'll have to wait in line like the rest of us.

One might venture to guess that it would be in the Market Exchange District, a creation of Mr. Schmidt's...but one could be wrong.

I've stumbled across an "MX2 Apartment" concept developed for JDS Properties by the DesignGroup, another company belonging to Dan Schmidt, that were slated for the Market Exchange District but the designs weren't large enough for 100+ units. Only time will tell for sure.

Market Exchange District Boundaries

OfficeSpace.com -- Definition of Columbus Area Markets

Market Exchange District bounded by I-71 on the east, Cherry St. on the north, Grant Ave. on the west and I-70 on the south