Little Rock, Ark.-based real estate investment partnership Tempus Realty Partners recently announced its acquisition of the headquarters campus of women’s apparel company Lane Bryant.
Located at 8323 Walton Parkway in New Albany, Ohio, the property encompasses nearly 280,000 square feet of class A suburban Columbus office space and reportedly claimed a price tag of $42 million.
“This purchase marks our sixth in the Columbus-area market,” said Dan Andrews, chief executive office of Tempus Realty Partners. “We’re thrilled to add such a high-quality property with a well-respected tenant to our portfolio.”
On the premises, the property features a workspace with an on-site cafe and fitness center. It also delights occupants and visitors with design elements such as a multi-tiered water feature, as well as a walking trail that winds through the surrounding green space. The property incorporates roughly 26 acres and includes more than 670 parking spaces.
With heavily traveled Route 161 located less than one mile away, the campus is well-connected and offers easy access to nearby amenities, including fine dining, hotels and event destinations.
Established in 1904, Lane Bryant is a leading retailer of plus size women’s apparel that operates a network of 450 stores nationwide. The company reportedly plans to remain the sole tenant of the property for at least another 20 years. According to CommercialEdge research data, the seller in this deal was Ascena Retail Group, Lane Bryant’s parent organization.
Tempus Realty Partners’ investment strategy has been focused on acquiring and developing commercial real estate in target markets across the South, Southeast and Midwest. In the Columbus area, Tempus also owns: the Huntington office building, which it acquired in 2021 for $6.7 million; the Hillard industrial building, purchased in 2020 for nearly $6 million; and the Offices at Polaris, for which the partnership paid nearly $18 million in 2018.
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