$20.7 Million Non-Performing Office Loan | Columbus, OH — Sale in Columbus, OH

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Columbus, OH
  • Size: 141,891 SF
  • Year built: 1989

Photos

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Description

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller to arrange the sale of a $20.7 million non-performing office loan (the “Loan”). The Loan is secured by a first-lien mortgage on a 141,891 square foot office property in Columbus, OH (the “Collateral” or “Property”). The Loan was originated in November 2019 with an original maximum principal balance of $33.6 million, a maturity date of November 2023, and was secured by two office properties. The Loan was subsequently amended to release the lien on one of the office properties and extend the maturity date to March 2026. The Loan failed to pay off at maturity and is currently in cash management. As of May 2026, the Loan has an unpaid principal balance of $20.7 million. The Collateral comprises a twelve-story office complex constructed in 1989 and renovated in 2007, situated on a 0.92-acre site in Columbus, OH. The Property features 141,891 square feet of net rentable area and a six-story parking garage that generates meaningful cash flow. Strategically located in the Brewery District of Columbus, the Property has convenient access to major employment corridors, regional amenities, and crucial thoroughfares. As of April 2026, the Property was 76% occupied. The offering presents investors with the ability to acquire the Loan at a favorable basis, significantly below replacement cost, with a potential direct path to ownership via a planned Deed in Escrow.

Market Context

This office in Columbus, OH is listed for sale across 141,891 SF. The building dates to 1989. Compare it against other office listings for sale in Columbus, OH — view the full market.

As of Q2 2026, the Columbus office market showed a 22.1% vacancy rate, average asking rents near $22.80/SF/yr, and rents up 4.0% year over year. Source: multiple brokerage reports, Q2 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Office market FAQ

Is the Columbus office market tightening or softening?
Vacancy is around 22.1%, with asking rents rising year over year (Q2 2026).

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