A prominent central Ohio developer sold a vast plot of land near Plain City for almost ten times what the company paid for the site a year ago.
Schottenstein Real Estate Group sold the 252-acre tract off of Dublin Plain City Road for $81.8 million, or roughly $325,000 per acre, according to the Madison County Auditor. The parcel, situated at 10045 Route 161 in Darby Township, was sold to Charleston, West Virginia-based 21Go Projects LLC on Nov. 6.
The land use is classified as agricultural, with the site sitting almost entirely empty aside from a two-story home built in 1930 that occupies about 1,650 square feet.
Auditor records show that Schottenstein Real Estate Group, via the real estate entity Madison Gateway LLC, paid $8.4 million when it bought the site in December 2024. That’s almost one-tenth of what it sold the site for last month.
The developer has had a lot of activity in Columbus’ northwest suburbs, with residential projects like Orange Grand Communities and Orange Summit in Orange Township; Liberty Grand Communities and Liberty Summit in Liberty Township and Jerome Grand in Jerome Township — all apartment complexes with hundreds of units built in the last roughly seven years.
Schottenstein Real Estate Group is also working on Jerome Summit — a 200-acre mixed-use project with 300 multifamily units, single family lots and office, industrial and high tech space in Jerome Township — and Madison Gateway, a 250-acre mixed-used development in Madison County.
It’s unclear how 21Go Projects LLC will use the Plain Township property as company representatives could not be reached for comment. A representative for Schottenstein Real Estate Group said the company couldn’t comment on the sale due to a non-disclosure agreement.
Reporter Emma Wozniak can be reached at ewozniak@dispatch.com or @emma_wozniak_ on X, formerly known as Twitter.
This article originally appeared on The Columbus Dispatch: Schottenstein Real Estate sells 252 acres in Madison County for $82M
Reporting by Emma Wozniak, Columbus Dispatch / The Columbus Dispatch
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