COLUMBUS, Ohio, March 12, 2019 –Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the exclusive listing of The Deco, a four-story, 114-unit luxury apartment building in Columbus, Ohio. The price is open bid.
“Built, owned and managed by a local family, The Deco has an irreplaceable infill location in one of the Midwest’s hottest rental markets,” said Josh Wintermute, IPA senior director. Wintermute, Michael Barron and Daniel Burkons, IPA senior managing directors, are representing the seller.
The Deco is located at 3450 Indianola Ave., less than two miles from The Ohio State University and 10 minutes from Downtown Columbus, the Short North Arts District and the Arena District. Polaris Parkway, a master-planned mixed-use development with more than 4 million square feet of office space and 3.6 million square feet of retail is close by. Average annual household income within a one-mile radius of the property is $82,186.
Constructed in 2017 on 2.5 acres, The Deco has 13 floor plans and a mix of studio and one-and two-bedroom apartments furnished with modern, high-end luxury finishes. The average unit size is 923 square feet. Community amenities include surface and covered parking, a swimming pool and a built-in outdoor kitchen.
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About Institutional Property Advisors (IPA)
With a network of senior-level investment advisors located throughout the United States and Canada, Institutional Property Advisors (IPA) is qualified to meet the needs of institutional and major private investors. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, superior support services and acclaimed research offer customized solutions for the acquisition and disposition of institutional properties and portfolios. www.institutionalpropertyadvisors.com.