Rampart Capital Purchased Historic Columbus Building
The D.C.-based investment firm acquired the Mercantile building at 309 S. Fourth St. for $8.9 million.
Updated on Oct. 8, 2026 in Commercial
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Rampart Capital has purchased the historic Mercantile building in downtown Columbus for $8.9 million. The transaction also includes $500,000 for associated parking lots as the firm plans future property improvements.
Why it matters
The acquisition underscores ongoing investment in historic downtown properties that have undergone previous transitions from office to residential use. The firm is currently scouting for a new commercial tenant to occupy the vacant ground-floor retail space.
The Mercantile building, constructed in 1902, features a 2,500-square-foot vacant ground-floor retail space. The total transaction for the site at 309 S. Fourth St. was valued at $9.4 million.
The players
Rampart Capital
An investment firm based in Washington, D.C., that focuses on property acquisition and management.
United States Carriage Company
The original occupant of the Mercantile building that historical records identify as the building's inaugural user.
Dueling Axes
A recreational axe-throwing business that ceased operations across all five of its locations earlier this year.
The details
Rampart Capital purchased the apartment building, which was previously converted from an office space that originally housed the United States Carriage Company. The firm plans to maintain the property and implement phased improvements over time.
Timeline
The Mercantile building was constructed in 1902.
Dueling Axes closed all five of its locations in summer 2026.
Roadmap
This acquisition aligns with the broader industry trend of converting and repurposing historic urban office buildings for modern residential utility. It reflects a strategic focus by investment groups to revitalize aging assets within dense city centers.
Residents of the Mercantile building can expect ongoing property improvements as the new ownership takes control of the site. Local shoppers may see a new retail business occupy the currently vacant ground-floor space in the coming months.
The takeaway
Historic properties in downtown cores remain a primary focus for investment firms seeking to add value through structural upgrades and tenant curation. Investors should monitor retail occupancy trends in these converted buildings to gauge the health of the local downtown economy.
Further reading
For more information on market shifts, visit the Columbus Commercial section.
Source note: This article includes information reported by NBC4i.
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