The E.V. Bishoff Co.'s patience is about to be rewarded. A property purchased almost 30 years ago at 155 N. 5th St. is ready to be renovated, now that the surrounding neighborhood has taken off.
August 28, 2013
The E.V. Bishoff Co.'s patience is about to be rewarded.
A property purchased almost 30 years ago at 155 N. 5th St. is ready to be renovated, now that the surrounding neighborhood has taken off.
"The time to go is now," said David Bishoff, head of the Columbus-based company that owns, operates and leases office space here and in several other cities.
The company will renovate the 5,400-square-foot building it purchased for $150,000 in 1985, creating three office spaces featuring exposed ducts, brick walls and high timbered ceilings.
"It's for the company that doesn't want standard-issue office space," Bishoff said. "The space, the location, lends itself to a creative company looking for something a little different."
The renovation project should take about 60 days once permits are secured, said Bishoff, who declined to give the cost of the project.
For the past several years, the building has been used mainly as a warehouse and storage facility, he said.
The proximity to Columbus State Community College, Columbus College of Art & Design and the Neighborhood Launch residential and retail project have made this section of the city more desirable to developers in recent years.
"This is an area sandwiched between other major investments," said Rob Click of CBRE in Columbus. "And that makes it a great infill area. It's very much an up-and-coming area for development."
He credits Jeff Edwards, developer of Neighborhood Launch, for starting the revitalization.
"That project has really worked out well," Click said. "It takes a pioneer or two, and then other people will jump in."
The Hills Market Downtown on nearby Grant Avenue opened in March, next to the Grass Skirt Tiki Room, which opened last fall.
"This has always been a good area, and it's on the verge of becoming a great one," said Bishoff, whose company has seven other properties in this section of the city.