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2009
Freiburger
of Alterra Real Estate Completes 3 Sales for Over $3.5 Million
Alterra
Ranks #4 on the Business First Fast 50 List
Alterra
Closes Over $9 Million Worth of Deals in Two Weeks
Alterra Sells Former Special Tee Golf
Location for $1.26 Million
Alterra Promotes Copella to Vice
President
Alterra Sells Free Standing Retail
Building
Alterra Signs Listing Agreement for
NEBC
Alterra Sells Two Medical Buildings
Alterra Sells Two Metro Place For $16
Million
2008
Alterra Leased/Sold 335,843 Square Feet
in Third Quarter of 2008
Alterra Sells The Cliffs for $5.3 Million
Alterra
Leased/Sold 284,918 Square Feet in First Half of 2008
2007
Two
Metro Purchased For $13.8 Million
Freiburger
of Alterra Real Estate Completes 3 Sales for Over $3.5 Million
Columbus,
OH – Thomas
W. Freiburger of Alterra Real Estate Advisors completed the
sales of three properties in December totaling $3,550,000.
1301
Dublin Road sold for $1,125,000 to Buyer, Bendigo Investments,
LLC on December 11, 2009.
The Buyer purchased the property as an investment but
also plans to occupy the space vacated by a partner of the
previous owner, M1000 LTD.
Freiburger represented the Seller and is assisting the
partner in finding a new location.
Freiburger
and Michael A. Leaventon of Alterra represented the Seller,
Ohio Rentals, LLC, in the sale of 4411 Marketing Drive on
December 18, 2009 for $1,225,000. The Buyer, LAMAKO
Properties, LLC, plans to expand their organization from their
current neighboring location.
Freiburger
represented the Buyer, Schofield Partners, LLC, in the
purchase of 3985 Groves Road on December 22, 2009 for
$1,200,000. Scott Behrman of CBRE represented the Seller,
General Products Corp. The
Buyer plans to occupy the property.
In
addition, Alterra Real Estate Advisors was hired by the new
owner of 1301 Dublin Road to manage the property. “Alterra
is looking forward to working with the new owner,” said
Alisa K. Argust of Alterra. “Alterra has grown
our property management portfolio by
20% per year and we expect 2010 to continue at that pace. We
attribute our continued growth to our ability to successfully
reduce the owner’s operating expenses without sacrificing
services and maintenance to their tenants and buildings.”
Alterra
Real Estate Advisors, one of the top commercial real estate
firms in Central Ohio, was founded in 1999 by Brad Kitchen to
provide a premier level of brokerage services throughout the
country. Alterra leases and manages nearly 2 million square
feet and has $130 million worth of properties for sale.
Alterra was named to the Business First’s Fast 50
list for 2009 as the fourth fastest growing company in Central
Ohio. For more
information regarding Alterra Real Estate Advisors, please
visit www.AlterraRE.com.
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Alterra
Ranks #4 on the Business First Fast 50 List
Columbus,
OH –
Alterra Real Estate Advisors was named No. 4 on the Columbus Business
First Fast 50 list for 2009.
The
list is comprised of the 50 fastest-growing private companies
in Central Ohio as ranked by average annual sales growth over
the three previous years.
Alterra’s growth during that time period was between
200% and 499%.
“We
are honored to be part of such a distinguished list of
businesses in Central Ohio,” said Brad Kitchen, president of
Alterra, “We have assembled a terrific team at Alterra, and
we are working hard to achieve the same level of growth in the
years to come.”
The
Fast 50 honorees were verified by an outside accounting firm.
To be considered for the award, the business must have
been an independent, for-profit and privately held company in
Central Ohio through 2008 with an average of at least $1
million in sales for the three previous years.
Alterra
Real Estate Advisors, one of the top commercial real estate
firms in Central Ohio, was founded in 1999 by Brad Kitchen to
provide a premier level of brokerage services throughout the
country. Alterra leases and manages nearly 2 million square
feet and has $130 million worth of properties for sale.
Alterra was named to the Business First Fast 50 list for 2009 as the fourth fastest growing
privately held company in Central Ohio.
For more information regarding Alterra Real Estate
Advisors, please visit www.AlterraRE.com.
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Alterra
Closes Over $9 Million Worth of Deals in Two Weeks
Columbus,
OH –
Alterra Real Estate Advisors completed 9 transactions totaling
$9,187,138 in two weeks. The
transactions include both sale and lease deals and are based
on gross transaction value. The most notable transactions were
the 15 years leases signed for 10,000 SF of medical space at
815 West Broad Street in Columbus, Ohio and the sale of The
Inn and Spa at Honey Run in Millersburg, Ohio. A full
list of transactions is included.
The
leases at 815 West Broad Street were signed by two medical
practices, the Ohio
Gastroenterology Group
and Central Ohio
Endoscopy Center, LLC.
This class A medical building is located in the shadows
of Mt Carmel West and will be home to a new medical office for
the Ohio Gastroenterology Group as well as an outpatient
surgery center for the Central Ohio Endoscopy Center.
Both tenants are expected to move in during the first
quarter of 2010.
Michael
Copella of Alterra represented the landlord, MKS LLC. “This
new building with close proximity to Mt. Carmel West is an
excellent long term location for these tenants who are
expected to make a significant capital investment into their
spaces.” Copella a said
The
Inn & Spa at Honey Run, which sold for $3,750,000, is a
45-unit inn located in the heart of Ohio Amish Country in
Holmes County. It
sits on over 63 acres of woodlands, streams and rolling hills
and is listed on the select registry of the Distinguished Inns
of North America. The
sale included both the property and the business.
Michael
Leaventon of Alterra represented the buyer, Agape Manor
Holding Company, LLC. Jason
Nies is the principal partner and will be an on-site owner
operator of the Inn. Bill
Oates of Inn
Consulting Partners resented
the seller, Phillip Jenkins.
Alterra
Real Estate Advisors, one of the top commercial real estate
firms in Central Ohio, was founded in 1999 by Brad Kitchen to
provide a premier level of brokerage services throughout the
country. Alterra leases and manages nearly 2 million square
feet and has $130 million worth of properties for sale.
Alterra was recently named to the Business First’s
Fast 50 list as one of the 50 fastest growing companies in
central Ohio. For
more information regarding Alterra Real Estate Advisors,
please visit www.AlterraRE.com.
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Alterra Sells
Former Special Tee Golf Location for $1.26 Million
Columbus,
OH – Alterra Real Estate Advisors sold the former
Special Tee Golf location at 1801 Henderson Road at Reed Road
in Columbus for $1.26 million ($212 PSF).
The buyer, Reed One LLC, is planning to redevelop the
0.564 acre site for a future tenant.
This sale combined with the redevelopment of the
Kingsdale Shopping Center demonstrates that the Upper
Arlington retail market is very resilient.
Michael Copella of Alterra
represented the sellers, Green to Tee Sales, Inc, and Scott
Messing of Real Living represented the buyers. This is the
second of four former Special Tee Golf locations that Alterra
has sold in the Columbus, Ohio market with the first being the
transfer of 6350 Sawmill Rd in June of 2009 for $1.75 million.
Alterra has the two remaining stores at Powell &
Rt. 23 and 4056 West Broad Street for sale for $2,800,000 and
$699,000, respectively.
Alterra Real Estate
Advisors, one of the top commercial real estate firms in
Central Ohio, was founded in 1999 by Brad Kitchen to provide a
premier level of brokerage services throughout the country.
Alterra leases and manages nearly 2 million square feet and
has $130 million worth of properties for sale.
For more information regarding Alterra Real Estate
Advisors, please visit www.AlterraRE.com.
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Alterra
Promotes Copella to Vice President
Columbus,
OH – Alterra Real Estate Advisors is pleased to announce
the promotion of Michael S. Copella to Vice President,
Commercial Sales and Leasing.
Copella, who joined Alterra in 2005, focuses primarily
on medical and health care representation and the leasing and
sale of office buildings.
“Since joining Alterra,
Michael has played an active role in the company,” said Brad
Kitchen. “He is
our top producing agent and also concentrates on new business
development for the company.”
Copella is active in the local
community as a volunteer for Life Care Alliance, a member of
the Columbus Board of Realtors, and a member of The Capital
Club where he co-chairs the Capital Club’s Young Executive
Board’s Philanthropy Committee.
The Committee partners with local charitable
organizations raising both money and awareness for such
charities as Dress for Success, Columbus Homeless Family
Foundation, and Hope Street Kids.
Copella is a
graduate of the State University of New York College at
Fredonia where he earned his Bachelor’s degree in
Communications Studies with a specialization in Public
Relations and a minor in Business Administration with a
concentration in Marketing. He currently resides in downtown
Columbus, Ohio.
Alterra Real
Estate Advisors, one of the top commercial real estate firms
in Central Ohio, was founded in 1999 by Brad Kitchen to
provide a premier level of brokerage services throughout the
country. Alterra leases and manages nearly 2 million square
feet and has $130 million worth of properties for sale.
For more information regarding Alterra Real Estate
Advisors, please visit www.AlterraRE.com.
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Alterra
Sells Free Standing Retail Building
Columbus,
OH – Alterra Real Estate Advisors, a Columbus based
commercial real estate firm, completed the sale of 6350
Sawmill Road, formerly Special Tee Golf, in Dublin for
$1,750,000 ($175 PSF). The
property is located at the corner of Sawmill Road and SR 161.
Michael
Copella of Alterra and Dan McDonald of Carey Laumer Commercial
Realty in Cincinnati, Ohio represented the sellers Albert,
Jack and Isaac Hazen. The Tansky Sawmill Toyota dealership
next door bought the property through an LLC to expand their
dealership presence at this high traffic intersection.
Alterra Real
Estate Advisors, one of the top commercial real estate firms
in Central Ohio, was founded in 1999 by Brad Kitchen to
provide a premier level of brokerage services throughout the
country. Alterra leases and manages nearly 2 million square
feet and has $130 million worth of properties for sale. For
more information regarding Alterra Real Estate Advisors,
please visit www.AlterraRE.com.
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Alterra
Signs
Listing Agreement for NEBC
Columbus, OH – Alterra
Real Estate Advisors, a Columbus based commercial real estate
firm, has been hired as the exclusive listing agent and
property manager for the Northeast Business Campus, a six
building, 199,340 square foot campus located on Corporate
Drive in Columbus, Ohio near New Albany and Easton. Brad
Kitchen, President of Alterra is representing the property.
The
campus has 102,785 square feet of office space and 65,262
square feet of flex space, and is currently 67% leased.
Larger tenants include Nationwide Children’s
Hospital, Nations Title, Consumer Support Services, Inc., Flow
Autoclave Systems, Inc. and WOW Communications.
Currently,
there is 58,814 square feet of office space and 15,700 square
feet of flex space available for lease; and Kitchen has stated
that he is actively negotiating several deals which would
significantly increase occupancy
The
building is also being offered for sale for $8.1 million, or
$41 per square foot. The
property was last purchased by Rushmore NEBC, LLC for
$9,712,000 in 2006. Ownership recently reverted to the lender
and Gryphon Asset Management was appointed as the receiver for
the property.
Alterra
also manages the property and is currently making a number of
changes to reduce the property's
operating costs, and add value to the property.
Alterra Real Estate
Advisors, one of the top commercial real estate firms in
Central Ohio, was founded in 1999 by Brad Kitchen to provide a
premier level of brokerage services throughout the country.
Alterra leases and manages nearly 2 million square feet and
has $130 million worth of properties for sale. For
more information regarding Alterra Real Estate Advisors,
please visit www.AlterraRE.com.
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Alterra
Sells Two
Medical
Buildings
Columbus, OH – Alterra
Real Estate Advisors, a Columbus based commercial
real estate firm, completed the sale of both 5300 Nike Drive
in Hilliard and 1547 West Broad Street in Columbus for
$1,547,000 and $900,000, respectively.
Both properties were owned by 36 Fiesta Lane, LLC. and
represented by Brad Kitchen of Alterra.
The
Nike Drive property was sold to local investors Golden
Unity LLC. They
purchased the property as an investment and current tenant,
Mt. Carmel Health Systems, leases the entire building.
Roya Ghodsi of ReMax Town Center represented the
buyer and financing was provided by US Bank.
Andrew
Tran of San Diego, CA purchased 1547 West Broad Street as an
investment property which was also leased to Mt. Carmel Health
Systems, and there was no financing.
Alterra Real Estate
Advisors, one of the top commercial real estate firms in
Central Ohio, was founded in 1999 by Brad Kitchen to provide a
premier level of brokerage services throughout the country.
Alterra leases and manages nearly 2 million square feet and
has $130 million worth of properties for sale. For more
information regarding Alterra Real Estate Advisors, please
visit www.AlterraRE.com.
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Alterra
Sells Two Metro Place for $16 Million
Columbus, OH – Two Metro Place in Dublin has been sold by 565 Metro LLC to an East
Coast investment company for $16 million. Two Metro
Place was originally purchased in July 2007 for $13.5 million
by a group of local investors led by Brad Kitchen, President
of Alterra Real Estate Advisors, and Ron Davis.
At the time of purchase in 2007, the building was 85%
occupied but Kitchen quickly added tenants to bring it to 98%
occupancy.
Two
Metro Place is an 118,000 sq. ft. Class A office building in
the Metro Center complex in Dublin.
Tenants include Influent, Lowes, The Ohio State
University, Siemens, and Sophos (formerly Smartpipes).
Alterra
will continue to handle the leasing and management of the
property for the new owners.
"The
buyer acquired a great long term asset with strong cash
flow," Kitchen said. “I look forward to Alterra's
continued relationship with both the buyer and tenants as
property manager of Two Metro Place.”
Alterra
Real Estate Advisors was founded by Brad Kitchen in 1999 to
provide a premier level of commercial real estate brokerage
services throughout the country, enabling their clients to
locate new facilities, reduce costs at their current
facilities, and earn the highest returns on their real estate
investments. Alterra was named one of ten Power Broker’s in
the Columbus market place by the CoStar Group, the nation's
leading provider of electronic commercial real estate
information. For more information regarding Alterra Real
Estate Advisors, please visit www.AlterraRE.com.
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