This Office Property is Off-Market.

220 W. Schrock Rd.
Westerville, OH 43081 ·

100,800 SF · Office For Sale

N/A

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Alliance Data Systems

Price N/A Occupancy 100%
Building Size 100,800 SF No. Stories 1
Property Type Office Tenancy Single
Property Sub-type Office Building Year Built 1991
Property Use Type Investment Lot Size 9.87 AC
Cap Rate 8% Parking Ratio 7.30 / 1,000 SF
Listing ID: 14640087 Date Created: 05/30/2006 Last Updated: 08/13/2007

Description

The Alliance Data Systems Building is a 100,800 square foot single tenant office property leased to ADS Alliance Data Systems, Inc. ("ADS") located at 220 W. Schrock Road in Columbus (Westerville), Ohio. ADS has been in occupancy since the the property's original contruction in 1991 and has just exercised their second five year option extending their lease until 2011. The ownership has just spent over $2.2 million in property renovations including a new roof, painting, carpeting, parking lot (resurfacing), a new technology center and updated the HVAC system. The property enjoys a 7.3/1,000 sf parking ratio which insures that this property will always have a competitive advantage over other properties within it's competitive set. ADS is publicly traded on the New York Stock Exchange under the symbol "ADS" and is the second largest outsourcer of private label card programs in the United States. Alliance Data is the result of the 1996 merger of JC Penney's transaction services business (BSI Business Services) and The Limited's credit card bank operation which were acquired by the venture capital firm Welsh, Carson, Anderson and Stowe.

The Alliance Data System Building is located at 220 W. Schrock Road in Columbus (Westerville), Ohio. The property is located between State Route 3 and Cleveland Avenue just north of I-270 which serves at the Columbus outerbelt. The property has enjoyed 100% occupancy since it's construction in 1991 and is in the heart of the desirable Westerville office sub-market.

Highlights

  • ADS has been in occupancy at the property since it was built and has recently exercised their second five year renewal option.
  • 100% leased to credit tenant which is traded on the NYSE under the stock symbol ADS.
  • Property was just renovated at a cost in excess of $2.2 million which included a new roof, technology center, carpeting, painting and updates to HVAC.
  • Property will always mantain a competitive advatage over competing properties having a 7.3/1000 sf parking ratio.
  • Property is located in the highly desirable office sub-market of Westerville.
  • Property is being offered without existing financing enabling investors to get debt with today's attractive interest rates.

Research

220 W. Schrock Rd., Westerville, OH 43081 (Franklin County)

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