Capitol Equities, a commercial real estate firm based in Columbus, Ohio announces the renewal of three major tenants at Marconi Square.
Originally used as the Majestic Paint headquarters and factory, the building was redeveloped into creative, loft offices in 1995 by the company ownership.
Schooley Caldwell Associates, an award-winning architectural & engineering firm, who was one of the first tenants in the building following the project’s renovations has signed a deal to extend its current lease an additional five years.
Says Tom Matheny, architect and VP/CFO of Schooley Cadwell, “As one of the original tenants of Marconi Square, we have watched the Arena District grow up around us into one of the most vibrant parts of town. More importantly, our space speaks to the type of work we do, and our location speaks to our commitment to downtown Columbus. We are pleased to continue our relationship with Marconi Square and the Yenkin family.”
Todd Kemmerer, president of Capitol Equities, has also negotiated a lease renewal for Holcomb Gallagher Adams, a leading marketing and communications firm, to retain their third floor offices and expand into an adjacent suite.
J.R. Kern, a principal of Capitol Equities, has also renewed sparkspace, a conference and leadership training facility located in Marconi Square. The dynamic characteristics of the property have suited the firm’s “creative space” image so well that it has leased an adjacent suite in the building to meet the needs of its growing operation.
By renewing these tenants Marconi Square & the attached Marconi Design Center, which are prominently situated in the Arena District at the corner of Marconi and Nationwide Boulevards, have maintained an occupancy rate of 90%.
While the central Ohio market continues to lead the nation with one of the top five highest vacancy rates for office product, the unique style of the building coupled with its favorable location in the Arena District and its high-quality ownership and management team are just a few of the characteristics that have allowed the project to sustain such a high tenant retention rate.