- AP/KIICHIRO SATO
Potential buyers are apparently electing not to put all their dollars in one basket-shaped office building. This unique property near Newark, Ohio, is having a hard time moving off the market, according to Bloomberg.
The former headquarters of the basket-making Longaberger Company, the building is something of a landmark in the Newark area, which is about 40 miles outside of Columbus. The 180,000-square-foot building is famous for looking just like an enormous basket – specifically, like the company’s best-selling Medium Market Basket.
“You might see it three or four miles off before you come around the bend, and then you say, ‘That is a basket. That is unquestionably a basket,'” Tom Rochon, who works for Longaberger’s holding company JRJR Networks, told Bloomberg.
It was completed in 1997 at the behest of founder Dave Longaberger. Inside, it has a marble entryway and a seven-story atrium.
Since Longaberger moved out of the building and condensed operations in a nearby factory, it has been looking to offload the structure. There’s just one problem: it’s a gigantic wicker basket.
Originally listed for $7.5 million about 18 months ago, it’s now for sale for $5 million. At about $28 per square foot, that’s a steal compared to similar buildings in the area, which typically go for $50 to $80 a square foot.
Apart from the abnormal exterior, the building is apparently quite normal.
“There’s nothing baskety inside,” Rochon said. “Nothing makes you feel like it’s in a basket. You feel like you’re in a nice, high-rise office building.”
However, there are some downsides. The paint is peeling due to the heating used to prevent snow build-up, the location isn’t all that desirable, and creating a new facade isn’t feasible. Michael Guagenti of Cushman & Wakefield, who is listing the property, has his work cut out for him.