JustClosed.

KeyBank Building · 88 E. Broad St., Columbus, OH

Apex Commercial Exchange and Friedman Real Estate announce the successful closing of the KeyBank Building — a landmark downtown Columbus receivership sale that drew exceptional competitive interest from institutional investors across the country.

The Deal

The two-day online auction ran April 14–16, drawing 15 registered bidders who placed a combined 18 bids. The final sale price of $5,100,000 — representing 255% of the opening reserve — reflects the depth of investor demand for well-located downtown Columbus real estate, even amid a broader office market reset.

The competitive bidding activity on this asset is a testament to what a well-executed receivership process can achieve when the right platform, marketing, and expertise are brought to bear. The auction format ensured transparent, market-clearing price discovery with no prolonged negotiation cycles.

About the Property

Situated directly across from the Ohio Statehouse, the KeyBank Building is one of Columbus's most recognizable office towers — strategically positioned at the corner of East Broad and North 3rd Street in the heart of the city's central business district.

The offering included the adjacent surface parking lot at 72 East Broad Street, adding 92 on-site parking spaces — a significant amenity in the downtown core. Its mixed-use zoning opens the door to commercial or multi-unit residential redevelopment, giving the new owner a range of value-creation paths.

Address

88 E. Broad St., Columbus, OH

Building Size

256,720 sq ft

Floors

21 Stories

Site Area

0.98 Acres

Year Built

1964 (Renovated 1986)

Parking

92 Spaces (On-Site + Valet)

Zoning

Mixed-Use 3

Ownership

Fee Simple

Columbus: One of the Midwest's Fastest-Growing Markets

Columbus continues to attract major investment across technology, semiconductor, and advanced manufacturing sectors — driving long-term job creation and sustained demand for well-located commercial real estate. This transaction reflects the depth of that opportunity and the confidence investors have in the city's long-term trajectory.

The Bottom Line

A well-executed auction process doesn't just sell a property — it maximizes value, compresses timelines, and creates genuine competition. The KeyBank Building closing is a clear example of what the ACE platform delivers for receivers, lenders, and sellers in complex situations.

Congratulations to all parties involved in getting this transaction across the finish line.

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Closing Announcement

KeyBank Building | Apex Commercial Exchange

Transaction Announcement · Receivership Sale

Just Closed.

88 E. Broad St., Columbus, OH

Apex Commercial Exchange announces the successful closing of the KeyBank Building, a landmark downtown Columbus receivership sale that drew exceptional competitive interest from institutional investors across the country.

$5.1M - Final Sale Price
255% - of Reserve Met
15 - Registered Bidders
18 - Bids Placed

01 | Exceptional Results in a Challenging Market
We're proud to announce the successful closing of one of downtown Columbus's most iconic, and complex assets: the KeyBank Building at 88 East Broad Street.

02 | The Deal
The two-day online auction ran April 14–16, drawing 15 registered bidders who placed a combined 18 bids. The final sale price of $5,100,000, representing 255% of the opening reserve, reflects the depth of investor demand for well-located downtown Columbus real estate, even amid a broader office market reset.

03 | About the Property
Situated directly across from the Ohio Statehouse, the KeyBank Building is one of Columbus's most recognizable office towers strategically positioned at the corner of East Broad and North 3rd Street in the heart of the city's central business district.

The offering included the adjacent surface parking lot at 72 East Broad Street, adding 92 on-site parking spaces, a significant amenity in the downtown core. Its mixed-use zoning opens the door to commercial or multi-unit residential redevelopment, giving the new owner a range of value-creation paths.

Address: 88 E. Broad St., Columbus, OH

Building Size: 256,720 sq ft

Floors: 21 Stories

Site Area: 0.98 Acres

Year Built: 1964 (Renovated 1986)

Parking: 92 Spaces (On-Site + Valet)

Zoning: Mixed-Use 3

Ownership: Fee Simple

04 | Columbus: One of the Midwest's Fastest-Growing Markets
Columbus continues to attract major investment across technology, semiconductor, and advanced manufacturing sectors, driving long-term job creation and sustained demand for well-located commercial real estate. This transaction reflects the depth of that opportunity and the confidence investors have in the city's long-term trajectory.

05 | The Bottom Line
A well-executed auction process doesn't just sell a property, it maximizes value, compresses timelines, and creates genuine competition. The KeyBank Building closing is a clear example of what the ACE platform delivers for receivers, lenders, and sellers in complex situations.

Congratulations to all parties involved in getting this transaction across the finish line.