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550 Polaris Pkwy Westerville, OH 43082

Class A Office Park, 274,310 SF, 97.31% Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional investment opportunity presents the Westar Office Portfolio, a stabilized Class A office park totaling 274,310 square feet. Located in Westerville, Ohio, at 550 Polaris Pkwy, this two-building, four-story complex boasts 25 units and 500 parking spaces on a 10.86-acre lot. Built in 2002, the property features high-end finishes and is currently 97.31% occupied with a diverse mix of professional, medical, and national tenants under NNN leases. The portfolio benefits from a weighted average lease term exceeding 4.55 years, ensuring consistent cash flow. Its strategic location in Westerville, centrally positioned between Dublin and Worthington and a short drive from downtown Columbus, provides excellent access to major highways and a vibrant surrounding area with ample amenities. The property's FR-1 zoning allows for flexibility and future growth. This meticulously maintained property represents a rare opportunity to acquire a high-quality, income-producing asset with a strong tenant base and significant long-term potential. The property's APN is 318-441-01-003-004, 318-441-01-003-005.

Highlights

  • Class A+ Office Park with exceptional amenities.
  • Strong Weighted Average Lease Term (WALT) exceeding 4.55 years.
  • Triple-Net (NNN) leased building providing predictable cash flow.
  • Impeccably maintained property with a history of high-quality upkeep.
  • Diverse tenant base minimizing vacancy risk.

Property Details for 550 Polaris Pkwy

Property type
Office properties
Square Feet
274,310 SF
Class
A
Year Built
2002
Buildings
2
Stories
4
Lot Size (sq. ft)
473,062 SF
Units
25

Location Insight

City
Westerville
County
Delaware
State
Ohio
Latitude
40.1479643
Longitude
-82.9479939

FAQs

What type of property is this?
Office property - Class A Office Park, 274,310 SF, 97.31% Occupancy
Where is the office property located?
The property is located at 550 Polaris Pkwy Westerville, OH.
What are key features of this property?
This property features: Class A+ Office Park with exceptional amenities.; Strong Weighted Average Lease Term (WALT) exceeding 4.55 years.; Triple-Net (NNN) leased building providing predictable cash flow.
How can I contact the broker?
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550 Polaris Pkwy
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