- Casto Adds Capella Center to Growing Retail Portfolio
- Tuesday, May 10, 2005
- Columbus, Ohio — Casto, one of the country’s leading owners, developers and operators of community and neighborhood shopping centers, announced that it has completed the purchase of Capella Center, strategically located on Sancus Boulevard, just south of Polaris Parkway and across from Polaris Fashion Place. The 25,800 square foot retail shopping center, built in 2003, was recently purchased from Capella Investments, LLC, a Columbus-based real estate company. With tenants including FedEx Kinko’s, Claddagh Irish Pub, El Vaquero, Penn Station, Frame Makers and H2O Nail Care, the center is currently 80% leased. According to partner Don M. Casto, III, “As we continue to strengthen our central Ohio portfolio, the purchase of Capella Center enhances our position in the thriving Polaris market of north Columbus.” The acquisition of Capella Center represents Casto’s second recent purchase in the Polaris area. In June 2004, Casto acquired Oak Creek Center, which is located on Polaris Parkway. Casto, a fully integrated real estate organization since 1926, is a recognized leader in the ownership, management, acquisition and development of commercial shopping centers and multi-family residences, office buildings and corporate parks. Casto’s growing portfolio currently includes over 19 million square feet of commercial property and nearly 7,000 residential units located primarily throughout the midwestern United States and southwestern Florida.
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