Columbus Developer CASTO Takes Ownership of Fully Leased Retail Center on Hilliard Rome Road

Date: October 2026

Corridor Focus: Hilliard Rome Road / I-70 Commercial Node

The Big Picture

Columbus-based developer and operator CASTO has acquired Hilliard Rome Commons (1710 Hilliard Rome Road) for $20.55 million from Atlanta-based retail investment firm RCG Ventures.

The 106,922-square-foot power center traded at approximately $192 per square foot and closed at 100% occupancy. Built in 2002, the asset features a national credit lineup anchored by Burlington, HomeGoods, Ulta Beauty, and pOpshelf, along with outparcel and pad tenants Buffalo Wild Wings and Bank of America.

Property & Transaction Facts

Why It Matters to the Community

• Local Stewardship vs. Out-of-State Private Equity: RCG Ventures operates a disposition-oriented fund model. CASTO, headquartered in Columbus since 1926, is a multi-generational buy-and-hold owner. Having a local landlord shifts day-to-day property oversight, vendor contracting, and site maintenance to an operator with deep roots in Central Ohio.
• Corridor Retail Stability: Unlike aging retail centers grappling with vacant big boxes, Hilliard Rome Commons is fully stabilized with off-price and experiential retail users that resist e-commerce pressure. The acquisition points to stable tenant retention rather than disruptive redevelopment or vacancy blight.
• Traffic & Infrastructure Demands: A 100% leased retail hub directly off the I-70 corridor maintains heavy trip generation during peak weekday evenings and weekends. Curb access, parking flow, and signal timing along Hilliard Rome Road will remain operational priorities under active management.
• Jurisdictional Boundary & Tax Revenue: While commonly regarded by residents as Hilliard due to its postal address, the property sits inside the City of Columbus municipal taxing jurisdiction along the shared service border. High-value arm’s-length commercial sales like this establish clear Franklin County assessment baselines that stabilize property tax revenues supporting surrounding schools and public service districts.

GoHilliard Take

Don’t let the postal address fool you: 1710 Hilliard Rome Road sits entirely inside the City of Columbus municipal boundary, even though it defines the southern retail gateway into Hilliard proper.

Here is what this deal actually signals on the ground:

Institutional capital is voting with its wallet on west-side retail density.

At $192/SF for 100% leased real estate, CASTO isn’t buying a turnaround or looking to re-engineer tenant rosters. They are buying an inflation hedge powered by value-driven foot traffic (Burlington, HomeGoods, Ulta, pOpshelf) that resists online shopping.

Local ownership beats out-of-state private equity every day of the week.

• Private equity sponsors prioritize fund horizons and exit multiples. Local operators like CASTO—headquartered here for a century—keep local vendors on speed dial, monitor physical deferred maintenance before asphalt crumbles, and play the long game on tenant retention.

The traffic isn’t going anywhere—so corridor management matters.

• When retail assets trade at full occupancy, trip generation along Hilliard Rome Road stays pinned at peak levels. For residents navigating the I-70 interchange during evening rush hour and Saturday afternoons, the priority isn’t filling empty storefronts—it’s ensuring Columbus and Franklin County keep traffic signal timing, access curb-cuts, and cross-easements functioning smoothly.

The tax windfall follows the lines.

While Hilliard residents spend their retail dollars in these stores, the municipal income tax and primary commercial tax revenues flow to Columbus, while real property assessments reinforce countywide school and service levy distributions. Every $20M+ transaction resets the baseline for what West Columbus commercial