CapRocq Core 2, an Arkansas-based real estate partnership, on Monday announced a $7.5 million investment in the 1400 Goodale buildings in Grandview Heights, Ohio, a suburb of Columbus.
The 1400 Goodale buildings consist of two properties: 1400 Goodale, a 60,110-SF office building, and 1404 Goodale, a 19,224-SF office building. The properties are located less than a mile from I-670, I-70 and State Highway 315.
“Columbus has proven to be an excellent market for CapRocq investments due to its healthy economy and central location,” Kevin Huchingson, co-founder of CapRocq, said in a news release. “We chose this particular site because of the opportunity to improve the property with our local leasing team at Colliers, and its convenient location in the developing, upwardly-mobile Grandview Heights community.”
The general partners of CapRocq Core 2 have now secured about $50 million in equity from Arkansas individuals and institutions. Combined with CapRocq Core, total equity in the partnerships now exceeds $106 million.
Other recent investments by the fund include the Triad Office Building in Greensboro, North Carolina; 855 Grandview Avenue in Columbus, Ohio, and Mission Towers in Mission, Kansas. The latest transactions bring the total CapRocq Core 2 portfolio size to nearly 2 million SF.
CapRocq was founded in December 2012 by Huchingson and Franklin McLarty. Other partners include Dewitt Smith, Isaac Smith, Ted Dickey and Mark Saviers. The group has said its investor base “will be largely comprised of leading Arkansas-based institutions and accredited individual investors.” Colliers International of Arkansas is the group’s exclusive real estate broker and advisor.
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