CASTO AQUIRES UNIQUE REDEVELOPMENT OPPORTUNITY IN HEATH, OHIO
Columbus, OH — CASTO, one of the country’s leading real estate organizations, has acquired a former Knights Inn Hotel property in Heath, Ohio on State Route 79. Redevelopment plans for the property are already underway.
“The acquisition of this property represents an exciting opportunity for CASTO to further our investment in Heath and to bring positive retail development to the community. Mayor Johns, the Heath Administration and the City Staff have all been incredible to work with throughout the acquisition process. If not for the collaborative effort with the City, this opportunity may not have come to fruition,” said Eric Leibowitz, Vice President of Development and Leasing at CASTO.
Multiple commercial buildings in the heart of Heath’s retail corridor are planned for the ± 4-acre site, which boasts direct access to State Route 79. The side additionally offers high traffic counts and excellent visibility. Demolition of the existing buildings on the property should be complete in the next 30-60 days.
“Quite a while ago, this property was a real asset to the community,” Heath Mayor Mark Johns said. “In more recent years, it became quite the opposite. It became a drain on city resources and often an eyesore on Hebron Rd., a major transportation route through the city. I’m happy that Heath has a great partner in CASTO to redevelop the site and transform it back into an asset and a property the community will be proud of once again.”
Heath City officials and CASTO representatives will hold a demolition celebration at the site, 733 Hebron Road, Heath, 43056, on Friday, April 12, 2019 at 10:30 am.
CASTO, a fully integrated real estate organization since 1926, is a recognized leader in the ownership, management, acquisition and development of multi-family residences, commercial shopping centers, mixed-use projects and office buildings. CASTO’s growing portfolio currently includes over 23 million square feet of commercial property and over 5,000 residential units located throughout the midwestern and southeastern United States. CASTO is headquartered in Columbus, Ohio and serves a variety of clients from five offices in Florida, North Carolina and Ohio. To learn more about CASTO, visit www.castoinfo.com.