Alterra Real Estate Advisors Acquires Office, Retail Building in Columbus for $3.1M in Sale-Leaseback

COLUMBUS, OHIO — In a sale-leaseback transaction, Alterra Real Estate Advisors has acquired a 62,000-square-foot office and retail building in Columbus for $3.1 million. Constructed in 1986, the property is 85 percent occupied. The lobby and common areas were recently renovated, but Alterra plans to make additional improvements for energy efficiency such as LED lighting. The seller, Auto Owners Life Insurance Co., remains a tenant in the building. Some of the other tenants include BHM CPA Group, J Gilberts restaurant and Salon Lofts. Rob Sullivan of Kemba Financial Credit Union provided acquisition financing. Alterra will handle leasing and management of the building.