the tuller building offering memorandum · 2020-02-27 · the disalvo group of marcus &...
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THE TULLER BUILDING2715 Tuller Pkwy Dublin, OH 43017 SQ. FT. : 13,854 SF | +/- 0.21 ACRES
OFFERING MEMORANDUM
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is
intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made
available to any other person or entity without the written consent of Marcus & Millichap. This Marketing
Brochure has been prepared to provide summarized, unverified information to prospective purchasers, and to
establish only a preliminary level of interest in the subject property. The information contained herein is not a
substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and
makes no warranty or representation, with respect to the income or expenses for the subject property, the future
projected financial performance of the property, the size and square footage of the property and improvements,
the presence or absence of contaminating substances, Polychlorinated Biphenyls or asbestos, the compliance
with State and Federal regulations, the physical condition of the improvements thereon, or the financial
condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of
the subject property. The information contained in this Marketing Brochure has been obtained from sources we
believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information
contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes
no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.
All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus &
Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified
in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply
affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or
subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included
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ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
NON – ENDORSEMENT NOTICE
CONFIDENTIATLITY & DISCLAIMER
PRESENTED BY
Forest BenderSenior Associate
Associate Director - National Office
and Industrial Properties Group
Indianapolis Office
Office: (317) 218-5346
Cell: (765) 748-6570
License: IN: RB14049223 / IN: AB21405968
Mitch RumerAssociate
National Office and Industrial Properties Group
Indianapolis Office
Office: (317) 218-5343
Cell: (317) 626-1268
License: IN: RB17002441
Joseph DiSalvo Senior Vice President Investments
Senior Director - National Office and Industrial
Properties Group, National Healthcare Group
Indianapolis Office
Office: (317) 218-5334
Cell: (317) 410-8788
License: IN: RB14051407
BOR: Michael Glass | Columbus, OH | BRK.2007005898
TABLE OF CONTENTS
PROPERTY ANALYSISPAGE #05
PROPERTY OVERVIEW
REGIONAL MAP
LOCAL MAP
AERIAL MAP
02
03
FINANCIAL ANALYSISPAGE #15
OPERATING STATEMENT
TENANT SUMMARY
MARKET OVERVIEW PAGE #19
MARKET ANALYSIS
DEMOGRAPHIC ANALYSIS
01
PROPERTY
ANALYSIS01
MULTI-TENANT OFFICE
THE TULLER BUILDING
THE TULLER BUILDING2715 Tuller Pkwy Dublin, OH 43017
13,854 SFRENTABLE BUILDING AREA
100%OCCUPANCY
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the
information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-
sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property.Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACTID ZAB0260024
$1,036,000OFFERING PRICE
2715 Tuller Pkwy
Dublin, OH 43017THE TULLER BUILDINGOFFERING HIGHLIGHTS
9.25%CAP RATE
$74.78PRICE / SF
$95,802NET OPERATING INCOME
7
MULTI-TENANT OFFICE
THE TULLER BUILDING2715 Tuller Pkwy Dublin, OH 43017
The DiSalvo Group of Marcus & Millichap is pleased to present 2715 Tuller Pkwy, a 13,854 square foot, multi-tenant office property in the Columbus, OH
MSA. 2715 Tuller Pkwy, located in the Dublin suburb of Columbus, sits off Sawmill Road, between W Dublin Granville Road, and Bethel Road. The Subject
Property is well located, among some of the most heavily traveled thoroughfares in the city, minutes away from dining, shopping, entertainment and just north
of The Ohio State University Airport. Columbus is the most populous city in the State of Ohio, growing by more than 10% from 2010 to 2017, with an
unemployment rate of roughly 4%, keeping the labor market tight. Employment growth above the national average will sustain investor interest in Columbus
office properties, while out-of-state and local buyers are increasingly deploying capital into area assets.
2715 Tuller Pkwy is a two-tenant, two-story professional office building, featuring ample parking. The current tenant mix includes Demotech, Inc. and Danis
Building Construction Company; both have been long-term tenants, providing investors stable cash flow. The Subject Property features a FOB Security
System, and recently replaced HVAC system, roof, and skylight, with no deferred maintenance items. The offering provides investors the low-responsibility
opportunity to benefit from a well-located, extremely well maintained, multi-tenant investment, in an extremely active area of Columbus, OH.
THE TULLER BUILDING
• 100% Occupied Two Tenant Professional Office
• New Roof, HVAC, and FOB Security System
• Strategically Located Just Off Major Thoroughfare
• 50% of GLA on fresh 5 Year NNN Lease
• Priced Below Replacement Value
INVESTMENT HIGHLIGHTS
2715 Tuller Pkwy Dublin, OH 43017
TOTAL BUILDING SF
13,854 SF
TOTAL BUILDINGS
01
TOTAL UNITS
02
IN-PLACE OCCUPANCY
100%
NUMBER OF STORIES
02
AsphaltPARKING SURFACE
80 Spaces Available | Ratio of 5.86/1,000 SFPARKING
590-201161APN
Class C OfficeZONING
I-71 | I-270 | SR 315 | 22 Minutes to John Glenn Columbus Int’l AirportHIGHWAY ACCESS
Fee SimpleTYPE OF OWNERSHIP
SQ. FT. : 13,854 SF | +/- 0.21 ACRES
1985YEAR BUILT
MULTI-TENANT OFFICE
2715 Tuller Pkwy Dublin, OH 43017
THE TULLER BUILDING
FlatTOPOGRPAHY
Concrete SlabFOUNDATION
MasonryFRAMING
MasonryEXTERIOR
Pitched ShingleROOF
Ground-MountedHVAC
MULTI-TENANT OFFICE
THE TULLER BUILDING2715 Tuller Pkwy Dublin, OH 43017
THE TULLER BUILDING
2715 Tuller Pkwy Dublin, OH 43017
LOCAL MAP
2715 Tuller Pkwy
Dublin, OH 43017
2715 Tuller Pkwy
Dublin, OH 43017
REGIONAL MAP
FINANCIAL
ANALYSIS02
OPERATING STATEMENT2715 Tuller Pkwy Dublin, OH 43017
THE TULLER BUILDING
Price: 1,036,000$ First Loan Amount: 75.00% 777,000$
Down Payment (1st): 25.00% 259,000$ Terms: 4.25% interest (1)
Current CAP: 9.25% 25 yr. amortization
Pro Forma CAP: 9.49% 5 yr. term
Approx. Rentable Square Feet: 10,420 Monthly Payment: 4,209.31$ (2)
Approx. Gross. Square Feet: 13,854
Cost per Gross Square Foot: 74.78$ Second Loan Amount: -$
Zoning: Commercial Terms: 6.50% interest (3)
Parking Spaces: 80 Spaces 20 yr. amortization
Site Area (Acres): 0.21 Acres 5 yr. term
Year Built: 1985 Net Down Payment:25.0% ####### Monthly Payment: -$ (4)
(5)
For the 12 Months Starting: June 2020 June 2025 UTILITIES
Utilities 22,591$
Gross Potential Rent: 166,560$ 174,508$ -$
CAM Recapture: 42,691$ 46,210$ -$
Tax Recapture: 13,645$ 14,769$ -$ 22,591$
Insurance Recapture: 1,755$ 1,899$
Mgmt. Recapture: 4,340$ 4,549$ COMMON AREA MAINTENANCE
Base Stop Recapture: -$ -$ Cleaning & Maintenance 11,140$
Other Income -$ -$ Repairs 32,451$
Condo Fees 19,200$ (5)
Scheduled Gross Income: 228,990$ 241,935$ -$
Vacancy 8,328$ 5.00% 8,725$ 5.00% -$
-$
Effective Gross Income: 220,662$ 233,210$ -$
Less Expenses: 124,860$ 134,855$ -$
-$ 62,791$
Net Operating Income: 95,802$ 9.25% 98,355$ 9.49%
Capital Reserves: 3,464$ $0.25/SF 3,464$ $0.25/SF Total CAM / Utilities $6.16 85,382$
Loan Payments: 50,512$ 50,512$ Real Estate Taxes (4) $1.97 27,289$
Pre Tax Cash Flow: 41,827$ 16.15% 44,380$ 17.14% Insurance $0.25 3,509$
Plus Principal Reduction: 16,319$ 19,337$ Management Fees (3) 4.0% 8,680$
Total Expenses: 124,860$
Total Return Before Taxes: 58,146$ 22.45% 63,717$ 24.60% Per Rentable Square Foot: 9.01$
Owner pays monthly fee for exterior maintenance
including landscaping, snow removal, parking lot
maintenance, etc.
CURRENT & PRO FORMA OPERATING DATA
UNDERWRITING ASSUMPTIONS
(2)PROJECTED EXPENSES
Expenses calculated from 2017-2018 income
statement(s).
Management fees calculated at a projected market
value at 4% of EGI.
RE taxes calculated using Franklin County's 3.21%
millage rate and the property's Market value of
$850,000.
Proposed Financing is based upon current market rates.
(1)PROPOSED FINANCINGSUMMARY
2715 Tuller Pkwy Dublin, OH 43017
THE TULLER BUILDINGTENANT SUMMARY
17
Approx. % of Ctr Current Lease Current Current Approx. Increase Increase Annual Annual Annual Annual Base Option
Rentable vs Total Term Expiration Monthly Annual Annual Effective Annual CAM TAX INS MGMT. Stop Terms
Suite Tenant Sq.Ft. Space Start End Rent Rent ($) Rent/SF Date Rent/SF Reimb. Reimb. Reimb. Reimb. Reimb.
Jan-00
1st Floor Danis Contruction 5,210 50.00% Sep-13 MTM 6,380$ 76,560$ 14.69$ Jan-00 -$ -$ -$ -$ -$
Jan-00
2nd Floor Demotech 5,210 50.00% Jul-13 Apr-25 7,500$ 90,000$ 17.27$ 42,691$ 13,645$ 1,755$ 4,340$ -$ Two (5) Year Options
10,420 100.00% 13,880$ 166,560$ 42,691$ 13,645$ 1,755$ 4,340$ -$
Occupied 10,420 100.00% 100.0% 166,560$ 15.98$ 42,691$ 13,645$ 1,755$ 4,340$ -$
Vacant 0 0.00% 0.0% -$ -$ -$ -$ -$ -$ -$
1) Demotech to sign 5-year NNN lease upon closing.
MULTI-TENANT OFFICE
THE TULLER BUILDING2715 Tuller Pkwy Dublin, OH 43017
MARKET
OVERVIEW03
OVERVIEW
COLUMBUS MARKET OVERVIEW
20
The Columbus metro is Ohio’s most populated metropolitan area,
composed of 10 counties located in the gently rolling hills of central
Ohio: Delaware, Licking, Fairfield, Pickaway, Union, Morrow, Madison,
Perry, Hocking and Franklin. Natural landmarks include reservoirs to
the north and the Scioto and Olentangy Rivers. Franklin County, home
to Columbus, is surrounded by somewhat rural counties. Columbus,
the state’s capital city, is a national transportation and distribution
hub, with nearly 60 percent of the U.S. population within an eight-hour
driving radius. Interstates 70 and 71 intersect in Columbus, while I-270
forms a beltway around the metro and I-670 bisects the city. Port
Columbus International Airport, located east of downtown, is the
primary air passenger facility, with some flights out of Rickenbacker
Airport.
METRO HIGHLIGHTS
LOGISTICS HUB
Rickenbacker Inland Port is a multimodal logistics
hub that provides air, truck and rail transport
throughout the U.S. and Canada, making the metro
a key point for distribution activities.
MIDWESTERN COMMERCIAL CENTER
Greater Columbus is home to multiple Fortune 500
companies and many regional operations, drawing
a variety of other employers and residents.
AFFORDABLE HOUSING COSTS
The median home price in Columbus is well below
the national level, channeling more expendable
income to local retailers and entertainment.
ECONOMY
21
▪ City, County and State agencies and Ohio State University provide a diverse array of
employment opportunities. A lower cost of doing business, a strong education system and
a strategic location draw major corporations to the metro.
▪ Fortune 500 companies based in the metro are L Brands, Cardinal Health, American
Electric Power, Big Lots and Nationwide, along with regional and subsidiary operations.
▪ Data centers and information technology are growing in Columbus with IBM’s Client Center
for Advanced Analytics at the core.
SHARE OF 2017 TOTAL EMPLOYMENT
MAJOR AREA PRIVATE EMPLOYERS
JPMorgan Chase
Nationwide Insurance
Honda of America
L Brands
Cardinal Health
Amazon
Huntington Bancshares, Inc.
Alliance Data Card Services
American Electric Power
Express Scripts Holding Co.* Forecast
MANUFACTURING
7%GOVERNMENT
HEALTH SERVICES
EDUCATION AND
+OTHER SERVICES
4%
LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES
19%
AND UTILITIES
TRADE, TRANSPORTATION CONSTRUCTION
PROFESSIONAL AND
BUSINESS SERVICES
2%INFORMATION
17%
4%
16% 10% 8%
15%
DEMOGRAPHICS
22
SPORTS
EDUCATION
ARTS & ENTERTAINMENT
▪ The metro is expected to add nearly 102,800 people in the next five years, resulting
in the formation of roughly 52,500 households.
▪ A median home price of roughly $190,900 has afforded 62 percent households to
own a home, which is slightly below the national rate of 64 percent.
▪ Approximately 34 percent of residents age 25 and older hold bachelor’s degrees; of
those residents, 12 percent also have obtained a graduate or professional degree.
Columbus may be best known as a college town, but for a midsize community, it offers
residents big-city amenities. The metro is home to major-league sports teams: the Blue
Jackets (NHL) and the Crew (MLS). The city is host to the Columbus Symphony Orchestra,
Ballet Met and Opera Columbus, as well as theater companies, art galleries and dealers,
and a variety of museums. Many of the galleries and restaurants are located in Short North,
a vibrant neighborhood north of downtown. The region’s economic vitality and social scene
are supported by a strong post-secondary education network, including the nationally
recognized Ohio State University, as well as many other four-year colleges, universities,
and two-year institutions.
QUALITY OF LIFE
2017 Population by Age
0-4 YEARS
7%5-19 YEARS
20%20-24 YEARS
7%25-44 YEARS
29%45-64 YEARS
26%65+ YEARS
12%
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s
Analytics; U.S. Census Bureau
35.9
2017MEDIAN AGE:
U.S. Median:
37.8
$59,800
2017 MEDIAN HOUSEHOLD INCOME:
U.S. Median:
$56,300
2M
2017POPULATION:
Growth2017-2022*:
5%
803K
2017HOUSEHOLDS:
6.5%
Growth2017-2022*:
OHIO METRO AREASTHE TULLER BUILDING
23
Office space demand advances across Ohio. Continued growth in the state is
supporting heightened leasing activity and positive net absorption in all three major
markets. Despite having the highest vacancy, Columbus office users are anticipated
to occupy more than 1 million square feet of space during 2019, the largest annual
gain. The diverse local metro, which includes the state capital and Ohio State
University, benefits from government departments and support firms that occupy
competitive office buildings. Additionally, stable employment growth is an indication
that Columbus firms will need larger footprints in the future. Cincinnati, meanwhile,
nearly mirrors the state capital in terms of economic and employment growth, which
will support a decline in vacancy this year. The metro also benefits from limited
construction that funnels nearly all new demand into existing properties.
Cleveland has mixed office fundamentals this year. Ohio’s largest metro is gaining
momentum, though gains are misaligned with the office market. Job growth will surge
to the highest rate during the current economic expansion, a welcome sign for the
local economy. Much of the demand is outside traditional office-using sectors, which
will result in a modest increase in office vacancy. Medical office space, however, is
benefiting from a strong healthcare sector anchored by the Cleveland Clinic.
Nonetheless, a revitalized downtown is attracting educated workers to the area,
which should encourage employers to turn to the market as a low-cost alternative.
Major Ohio Metros Boast Improving Economies,
Supporting Office Price Appreciation
* Cap rates trailing 12 months through 1Q19
Includes sales $1 million and greater for Cincinnati, Cleveland and Columbus.
Sources: CoStar Group, Inc.; Real Capital Analytics
Investment Trends
Cincinnati
• Northern Kentucky and core locations within Cincinnati account for about
half of all transactions in the metro. Investors, particularly owner-users, may
find opportunities in suburbs, where competition for available properties is
limited.
• The metro’s bright long-term outlook has tightened average cap rates to the
lowest among the major Ohio markets. First-year returns averaged in the
mid-7 percent range during the most recent 12-month period.
Cleveland
• Investors remain optimistic about the local office market, though creative
strategies will help move assets. Buyers with a tenant in tow or the ability to
reposition a local office asset can achieve outsized returns in the market.
• At approximately 8 percent, average cap rates are the highest in the state.
Nonetheless, average first-year returns are only 70 basis points higher than
the pre-recession trough.
Columbus
• Columbus remains the most consistent office sales market in Ohio as
investors are attracted to the diverse local economy. Another healthy year of
investment activity is anticipated this year.
• Buyers acquired office assets in the market at average cap rates in the high-
7 percent range during the last year..
Office 2019 Outlook
Vacancy
Y-O-Y
BasisPoint
Change
MetroAsking
Rent
Y-O-Y
Change
Cincinnati 11.4% -50 $16.60 2.3%
Cleveland 11.4% 10 $18.40 2.8%
Columbus 11.7% -40 $19.05 2.2%
1Q19 – 12-MONTH TRENDOHIO METRO AREAS: COLUMBUS2715 Tuller Pkwy Dublin, OH 43017
24
• Hiring activity slowed during the
last six months as 3,000 jobs
were created in the metro. Year
over year, payrolls increased by
13,200 positions, while the
unemployment rate remained
steady in the high-3 percent
range.
• Office-using employment ticked
up 0.2 percent over the last 12
months as less than 1,000 jobs
were created. Financial activities
employers contributed 700 office-
using spots.
EMPLOYMENT
• In the past year, office stock
climbed 1.3 percent as 1.5
million square feet came
online. However, no new
competitive inventory was
added in the metro during the
past six months.
• Less than 1 million square feet
of space is underway, with
approximately 50 percent pre-
leasing activity. One notable
project, the 800 North High
development, will be
completed in the second half
of this year.
CONSTRUCTION
• An influx of new construction
resulted in a sharp rise in
vacancy year over year as the
rate jumped to 11.8 percent. A
break from development
supported a 30-basis-point
decline in vacancy in this
year’s opening period.
• Class A vacancy jumped 210
basis points in the past year
to 12.7 percent in the first
quarter. In the Class B/C
segment, average vacancy
rose 140 basis points.
VACANCY
• Average asking rent
contracted to $18.32 per
square foot, down 1.9 percent
annually. During the previous
yearlong period, average rent
soared 5.6 percent.
• Over the past 12 months,
average Class A rent declined
3.1 percent to $20.25 per
square foot. In the lower tiers,
average rent dipped 1.3
percent to $17.38 per square
foot.
RENTS
increase in the
average asking rent
Y-O-Y
1.9%basis point increase in
vacancy Y-O-Y160square feet
completed
Y-O-Y
1.2 millionincrease in total
employment Y-O-Y1.2%
* Forecast
SUBMARKET TRENDSOHIO METRO AREAS: COLUMBUS2715 Tuller Pkwy Dublin, OH 43017
25
Investors Keen on the Long-Term Outlook for Columbus Office Properties
Outlook: Although deal flow increased,
buyers did focus on smaller properties
over the past year as several owner-user
deals transacted for Class B and Class C
properties.
Vacancy
Rate
Y-O-Y
BasisPoint
Change
SubmarketAsking
Rent
Y-O-Y%
Change
Columbus South 5.0% 130 $17.96 6.9%
Fairfield County 6.7% 260 $21.54 3.4%
Columbus West 8.9% 250 $18.59 -5.9%
Licking County 9.9% 60 $14.98 39.1%
Columbus Central 10.30% 200 $18.81 -9.50%
Columbus East 10.7% -160 $16.41 -1.7%
Delaware County 11.0% 180 $20.39 -0.2%
Columbus North 15.9% 260 $18.26 7.0%
Overall Metro 11.8% 160 $18.32 -1.9%
Lowest Vacancy Rates 1Q19
Sales Trends
• Contrary to the other two major Ohio metros, Columbus deal flow inched up in the
most recent 12-month period. An increase in Class A and Class C sales supported the
increase.
• Average cap rates compressed a modest 10 basis points into the high-7 percent
range, nearly matching the low reached during the previous cycle. Investors paid an
average of $122 per square foot, up 10 percent year over year.
* Trailing 12 months through 1Q19 over previous time period
Sources: CoStar Group, Inc.; Real Capital Analytics
*1Q19
**2018
CAPITAL MARKETSOHIO METRO AREAS2715 Tuller Pkwy Dublin, OH 43017
26
* Trailing 12 months through 1Q19
Include sales $2.5 million and greater
Sources: CoStar Group, Inc.; Real Capital Analytics
• Ongoing trade concerns weigh on growth outlook; Fed plots next steps. Amid rising trade
tensions between the U.S. and China and slowing global growth, the outlook has turned more
cautious. Market volatility, along with a flight to safety trade, has flattened the yield curve
dramatically, with the 10-Year Treasury trading below 2.2 percent. This has pushed the broader yield
curve into inversion, a closely watched precursor to a potential recession. Meanwhile, many
measures of the domestic economy remain buoyant, including continued job and wage growth,
historically low unemployment and muted inflationary pressure. These conditions have prompted a
dichotomy, with Federal Reserve officials signaling more accommodative policies. The impending
end of quantitative tightening in September, coupled with potential cuts to the Fed funds rate in the
second half of the year, highlight the shift in Fed policy. As a result, long-term interest rates are likely
to remain subdued, with Fed policy leaning toward accommodation.
• Conservative underwriting balances abundant marketplace liquidity. While debt availability for
office assets remains widely available from a wide range of sources including local, regional and
national banks and insurance companies, sentiment surrounding the health of the economy has
fallen somewhat in recent months. Lenders remain broadly cautious in underwriting, with loan-to-
value (LTV) ratios typically in the 55 to 70 percent range, depending on the borrower, asset and
location. The conservative approach has filtered into a focus on proven property results, with much
less willingness to lend against pro forma rents. This has prompted investors to turn toward short-
term mezzanine debt and bridge loans to cover capital improvements, while seeking long-term
solutions once returns have been solidified. Construction origination remains muted, with lenders
focusing on core locations with proven demand.
DEMOGRAPHICSTHE TULLER BUILDING
CREATED ON JANUARY 2020
27
POPULATION 1 Miles 3 Miles 5 Miles
▪ 2023 Projection
Total Population 12,729 94,580 236,383
▪ 2018 Estimate
Total Population 12,349 92,225 226,961
▪ 2010 Census
Total Population 11,193 84,080 204,491
▪ 2000 Census
Total Population 9,959 80,548 188,939
▪ Current Daytime Population
2018 Estimate 10,505 101,351 255,739
HOUSEHOLDS 1 Miles 3 Miles 5 Miles
▪ 2023 Projection
Total Households 6,043 42,190 102,035
▪ 2018 Estimate
Total Households 5,762 40,736 97,495
Average (Mean) Household Size 2.19 2.26 2.32
▪ 2010 Census
Total Households 5,202 36,922 87,339
▪ 2000 Census
Total Households 4,576 34,810 79,586
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles
▪ 2018 Estimate
$200,000 or More 4.76% 8.12% 11.07%
$150,000 - $199,999 6.32% 8.61% 10.34%
$100,000 - $149,000 14.87% 17.64% 19.63%
$75,000 - $99,999 16.28% 15.85% 14.94%
$50,000 - $74,999 21.85% 20.27% 17.98%
$35,000 - $49,999 12.72% 11.37% 9.72%
$25,000 - $34,999 8.18% 6.65% 5.93%
$15,000 - $24,999 7.05% 5.14% 4.72%
Under $15,000 9.53% 8.52% 7.88%
Average Household Income $85,775 $103,486 $118,393
Median Household Income $65,861 $75,307 $84,328
Per Capita Income $40,021 $45,764 $50,935
POPULATION PROFILE 1 Miles 3 Miles 5 Miles
▪ Population By Age
2018 Estimate Total Population 12,349 92,225 226,961
Under 20 23.57% 22.40% 24.08%
20 to 34 Years 34.26% 27.85% 22.43%
35 to 39 Years 8.97% 7.86% 7.14%
40 to 49 Years 11.09% 11.73% 13.00%
50 to 64 Years 13.56% 18.48% 20.05%
Age 65+ 8.52% 11.67% 13.28%
Median Age 31.77 34.86 37.36
▪ Population 25+ by Education Level
2018 Estimate Population Age 25+ 8,721 66,817 161,106
Elementary (0-8) 0.60% 0.80% 0.72%
Some High School (9-11) 2.21% 2.16% 1.91%
High School Graduate (12) 15.91% 14.43% 12.80%
Some College (13-15) 20.18% 17.74% 16.59%
Associate Degree Only 7.44% 6.82% 6.26%
Bachelors Degree Only 34.98% 36.02% 36.93%
Graduate Degree 18.20% 21.50% 24.40%
Source: © 2019 Experian
DEMOGRAPHICSTHE TULLER BUILDING
CREATED ON JANUARY 2020
28
POPULATION BY
TRANSPORTATION TO WORK1 Miles 3 Miles 5 Miles
▪ 2018 Estimate Total Population
Bicycle 0.03% 0.06% 0.18%
Bus or Trolley Bus 0.52% 0.67% 0.83%
Carpooled 4.52% 5.26% 5.83%
Drove Alone 90.94% 88.02% 86.37%
Ferryboat 0.00% 0.00% 0.04%
Motorcycle 0.04% 0.14% 0.11%
Other Means 0.30% 0.32% 0.32%
Railroad 0.00% 0.00% 0.00%
Streetcar or Trolley Car 0.00% 0.00% 0.00%
Subway or Elevated 0.00% 0.00% 0.00%
Taxicab 0.01% 0.11% 0.11%
Walked 1.08% 0.97% 0.98%
Worked at Home 2.57% 4.46% 5.23%
POPULATION BY TRAVEL TIME TO
WORK1 Miles 3 Miles 5 Miles
▪ 2018 Estimate Total Population
Under 15 Minutes 26.39% 24.73% 24.26%
15 - 29 Minutes 46.77% 48.79% 48.04%
30 - 59 Minutes 21.06% 19.47% 20.05%
60 - 89 Minutes 1.51% 1.33% 1.26%
90 or More Minutes 0.63% 0.76% 0.98%
Worked at Home 2.57% 4.46% 5.23%
Average Travel Time in Minutes 23 23 23
Income
In 2019, the median household income for your selected geography is
$84,328, compare this to the US average which is currently $58,754.
The median household income for your area has changed by 36.84%
since 2000. It is estimated that the median household income in your
area will be $97,035 five years from now, which represents a change
of 15.07% from the current year.
The current year per capita income in your area is $50,935, compare
this to the US average, which is $32,356. The current year average
household income in your area is $118,393, compare this to the US
average which is $84,609.
Population
In 2019, the population in your selected geography is 226,961. The
population has changed by 20.12% since 2000. It is estimated that
the population in your area will be 236,383.00 five years from now,
which represents a change of 4.15% from the current year. The
current population is 49.04% male and 50.96% female. The median
age of the population in your area is 37.36, compare this to the US
average which is 37.95. The population density in your area is
2,885.41 people per square mile.
Households
There are currently 97,495 households in your selected geography.
The number of households has changed by 22.50% since 2000. It is
estimated that the number of households in your area will be 102,035
five years from now, which represents a change of 4.66% from the
current year. The average household size in your area is 2.32 persons.
Employment
In 2019, there are 140,467 employees in your selected area, this is
also known as the daytime population. The 2000 Census revealed
that 82.56% of employees are employed in white-collar occupations
in this geography, and 17.46% are employed in blue-collar
occupations. In 2019, unemployment in this area is 3.00%. In 2000,
the average time traveled to work was 23.00 minutes.
Race and Ethnicity
The current year racial makeup of your selected area is as follows:
79.56% White, 4.19% Black, 0.03% Native American and 11.93%
Asian/Pacific Islander. Compare these to US averages which are:
70.20% White, 12.89% Black, 0.19% Native American and 5.59%
Asian/Pacific Islander. People of Hispanic origin are counted
independently of race.
People of Hispanic origin make up 3.91% of the current year
population in your selected area. Compare this to the US average of
18.01%.
Housing
The median housing value in your area was $260,787 in 2019,
compare this to the US average of $201,842. In 2000, there were
52,411 owner occupied housing units in your area and there were
27,174 renter occupied housing units in your area. The median rent at
the time was $631.
Source: © 2019 Experian
2715 Tuller Pkwy Dublin, OH 43017
THE TULLER BUILDING2715 Tuller Pkwy Dublin, OH 43017
MULTI-TENANT OFFICE
2715 Tuller Pkwy
Dublin, OH 43017
DEMOGRAPHICS
2715 Tuller Pkwy Dublin, OH 43017
Joseph DiSalvo Senior Vice President Investments
Senior Director - National Office and Industrial
Properties Group, National Healthcare Group
Indianapolis Office
Office: (317) 218-5334
Cell: (317) 410-8788
License: IN: RB14051407
PRESENTED BY
Forest BenderSenior Associate
Associate Director - National Office
and Industrial Properties Group
Indianapolis Office
Office: (317) 218-5346
Cell: (765) 748-6570
License: IN: RB14049223 / IN: AB21405968
Mitch RumerAssociate
National Office and Industrial Properties Group
Indianapolis Office
Office: (317) 218-5343
Cell: (317) 626-1268
License: IN: RB17002441
BOR: Michael Glass | Columbus, OH | BRK.2007005898