Ohio State

The university has a contract to buy three parcelsd at Neil and 10th avenues in Columbusfor $3.1 but that’s no guarantee it can close the deal, said Tom senior director of planning and real estate. The schoolp needs state approval forthe purchase, and other potentiaol buyers could arise. Ohio Stat has withdrawn its request to authorize the deal fromthe Jan. 26 agendaq of the state , a legislative body that overseesd major expenditures ofstatse departments. But the school expectes to bring back the request in a few Tearney said. Building owner , based in the Cincinnatiu suburbof Loveland, operates Aveda Institutes in Los Angeles and Chapel Hill, N.C.
They providr training in salon and spa work and sell discountedx services such as hair cuts and facials bysupervisex students. Nurtur is an affiliate of Minneapolis-basede , a beauty products maker and salon The real estate agreementr with Ohio State calls forhonoring Aveda’s which has several years remaining and a renewal said Dick Elosh, the university’s lead real estate coordinator. Nurtur principals did not return phone callsseeking comment, and executives from Avedw Corp. were in Ohio for meetings and could not be aspokeswoman said.
The property is within the land acquisitionb zone identified inthe university’s master plan, but there are no planzs for how it migh be used, Tearney said. “It is clea it has strategic value,” he “Less clear is the specific objectiver to be assigned to the A possible future policy to require sophomores to live on campues would require more housing tobe built, and the buildinb is across the street from a housing complecx that’s being expanded. The properties in contrac last sold for acombined $1.2 millionh from 2004 to 2007. Two appraisals submittedx to the Controlling Board values them within 1 percent ofthe $3.1 million offer.
The price reflectsx extensive renovations plus the ongoingtrental income, Tearney Aveda, becoming cramped in the 13,000 squarer feet it occupies on last year moved some of its operation to the Southu Campus Gateway on High Street. Contractors have filed liensx totalling $313,000 over unpaid renovatio n bills. , the university affiliatd thatruns Gateway, said it isn’t involved in eithert the construction dispute or the Neil Avenue property.

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