Colliers Team Leases Over 60,000 SF at Westar I & II and Facilitates Sale of Two Building Westerville Campus

Westar I & II are two of the premier office buildings in the Greater Columbus market. The Colliers team had the opportunity to facilitate the sale of the 279,911 SF portfolio while also leasing over 60,000 SF on behalf of Highbrook Investors.

The Client

Highbrook Investors

The Challenge

Westar I & II are Class A, multi-tenant office buildings totaling 279,912 SF in Westerville, OH. Dan Dunsmoor, Michelle Fude and Andy Jameson of Colliers took over the leasing assignment at 71% occupancy with 82,212 SF of vacancy to fil while also working to sell the two-building office portfolio.

The Strategy

The Colliers team came up with a strategic targeted leasing strategy for Westar I & II. Through unsolicited proposals, diligent negotiations and constant canvasing of the northern market, the team made sure no opportunity was missed. The resulting surge of leasing proved a testament to the office tenant demand for high quality office properties in Class A locations which helped drive interest from investors across the country who are seeking high quality suburban office buildings.

Results

After a few months of pursuing target Tenants, Colliers secured an 8,600 SF Tenant. The leasing momentum further increased and resulted in over 60,000 square feet of leasing within a 3-month period, bringing the buildings’ occupancy from 71% – 91%. This momentum helped secure a strong buyer for the portfolio.