Nationwide Realty Investors to Acquire Property in Franklinton
Planning is underway to redevelop the site
COLUMBUS, Ohio, May 20, 2014–Columbus-based Nationwide Realty Investors (NRI) announced today that it has entered into contract to purchase an eight acre property at 555 West Broad Street in Franklinton. NRI President and COO Brian J. Ellis made the announcement. NRI plans to close on the property, purchased from Byers Chevrolet, later this year.
“The city’s plan for redevelopment of the Scioto Peninsula and adjacent Franklinton neighborhood is very exciting,” said Ellis. “The acquisition of this property allows us to play a role in helping to rebuild and rejuvenate this great neighborhood.”
NRI has not announced its plans for the Franklinton site. “We are evaluating a variety of potential uses and will share our vision for the site once our initial planning is complete,” said Ellis.
Byers Chevrolet, who recently announced plans to build a new facility in Grove City, will continue to operate at 555 W. Broad Street through the end of the year.
About Nationwide Realty Investors: Nationwide Realty Investors is the real estate development affiliate of Nationwide Mutual Insurance Company and the developer of the mixed-use Arena District and Grandview Yard in Columbus, Ohio. Directly and through joint ventures, Nationwide Realty Investors owns more than $1.4 billion in real estate investments. For more information visit www.nationwiderealtyinvestors.com.